Central Bank Issues Statement on Control of Funds in 25 Counties

A statement by the Central Bank of Kenya has revealed that former Nairobi Governor Evans Kidero and his officers are still signatories to the County Government bank accounts.

According to the acting Director of Banking Services at the CBK, Mr Mwenda Marete, the situation is replicated in 24 other counties where incumbents were ousted.

The CBK, which conducts banking services for all 47 counties, explained that the incumbents will remain signatories to the accounts until ward representatives take their oath of office.

The County Assemblies will then be responsible for approving new Finance Executives for their counties, who will subsequently instruct the Bank to effect changes to the county accounts.

"Existing signatories and internet banking users to the county government account at CBK remain authorised to transact and are accountable for the operations of those accounts until CBK is advised otherwise.

"CBK will be ready to receive instructions from the (new) CEC for finance, who is the officer responsible for authorising the opening, operating and closing of bank accounts of the county government and its entities," Mr Marete clarified in the statement.

While a few County Assemblies have already sworn in the MCAs and elected Speakers, the Nairobi County Assembly is yet to do so.

Bomet Governor Joyce Laboso has confirmed the situation to be true in her county, stating that the county funds are secured from unauthorised access by former Governor Isaac Ruto and his officers.

"As soon as the finance executive is sworn into office, we will set the ball rolling and find new signatories. Before then, the accounts remain frozen and only those transactions I have authorised will be done.

"I have also sent my people to shadow the signatories, learn and be ready to do the job once we have an executive," Dr Laboso explained.