MOMBASA, KENYA DEC 5 – The controller of budget Margaret Nyakango has been arrested by the police. She was arrested in Mombasa and is set to face several charges.
The controller of Budget and ten others are supposed to face charges including conspiracy to defraud contrary to section 317 if the penal code, operating a SACCO that is unlicensed contrary to section 24 as red with section 66 of the SACCO Societies Act 2008. Forgery and use of false documents contrary to section 353 of the penal code.
It’s alleged that she committed these offenses with 10 other people in 2016. This was before she clinched her role of the controller of budgets. She was sworn in as controller of budget in December 2019.
The office of the Director of public prosecution has approved the charges in a letter to the DCI on November 30.
She has always been vocal about public expenditure. Recently she had warned that the government may soon fail to render important services due to flailing shilling against the dollar which has led to sharp increase of public debt.
In her National Government Budget Implementation Review Report for 2022/2023 financial year, Nyakang’o had highlighted that the country had a significant amount of public debt denominated in foreign currencies, making it vulnerable to currency fluctuations and exchange rate risks.
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“The continuous depreciation of the Kenya shilling will necessitate an increase in the amount required for loan payments. This will erode the government’s fiscal space and limit the implementation of other critical policies and programs, resulting in budget adjustments,” Nyakang’o said.
According to the ODPP, Nyakang’o is set to be arraigned at the Mombasa Law Courts for plea-taking. She is currently being held at Port Police Station in Mombasa.
