Billions Recovered From NYS Scandals So Far

  • The government has issued an update on all the money recovered from the two NYS scandals so far.

    Assets Recovery Agency (ARA) Director, Muthoni Kimani, gave the update during an Anti-Money Laundering and Asset Recovery workshop at Radisson Blue Hotel, Nairobi on Monday. 

    She stated that the recovery agency has taken back Kshs 3 billion in total as assets obtained from both NYS scandals. 

    Assets worth Kshs 500 million have been seized from NYS one, out of Kshs 800 million that was reported to have been lost. 

    Another Kshs 2 billion has been repossessed from the second NYS scandal in which former Youth Affairs PS Lilliam Omollo was implicated. 

    "We are continuing with financial investigations into the NYS case. The recovered assets have been returned to the state," Attorney General Kihara Kariuki told journalists.

    The ARA has also made strides in investigating scandals at other government agencies such as the Youth Enterprise Develop Fund.

    "We have recovered an apartment which we confirmed was acquired by money stolen from the Youth Fund," announced the ARA Director. 

    “We do not wait for the criminal processes to be concluded. So long as we have received intelligence that property was acquired through illicit money, then we move in and seize it as DCI deals with the criminal cases in court,” Kimani added.

    A mutual agreement between Kenya and several countries has helped the agency freeze bank accounts that have been hidden abroad by graft suspects.