A day after Kenya signed an agreement with Switzerland paving the way for repatriation of corruption proceeds stashed in foreign countries, Embakasi East MP Babu Owino has come out to oppose the plan.
Alluding to the high levels of graft in the government, Babu proposed that the funds be chanelled directly to China to go towards debt repayment.
China currently controls 66 percent of Kenya's bilateral debt with its debt stock standing at Sh478.6 Billion according to the latest data.
"The frozen Kenya's money in Switzerland should be channelled directly to China as part of our debt repayment. Hio pesa ikirudishwa Kenya itapotea kwa upepo! (If that money is returned to Kenya it will dissapear into thin air)," Babu wrote.
The framework signed during Swiss President's Alain Berset's visit is also supported by the United Kingdom and Jersey Island, creating a mechanism for the recovery of assets hidden by corrupt individuals in the three countries.
[caption caption="Switzerland President Alain Berset (Standing left) and President Uhuru Kenyatta look on as the Swiss Ambassador and Kenya's Attorney General sign the deal on 09/07/2018"]
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It was revealed that the framework would facilitate the recovery of funds acquired in the Anglo-leasing corruption scandal and stashed in Switzerland.
Switzerland had previously announced that it had frozen Sh200 million from the scam.
“This agreement will ensure that illegally acquired wealth held outside the country is repatriated to benefit the Kenyan people,” stated President Uhuru Kenyatta during the signing of the agreement in State House, Nairobi.
It was also announced that a team drawn from the Office of the President, the Attorney General, the Treasury, the Assets Recovery Agency, the Ethics and Anti-Corruption Agency and envoys or representatives representing the partner countries would be tasked with implementation of the deal.
“Other countries that have anti-corruption laws and have identified proceeds of corruption that they are willing to return to Kenya may join as new partners with consent of all the existing partners and the government of Kenya,” the statement read in part.
[caption caption="MP Babu Owino addressing the press"]
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