Nairobi News

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NYS loot among Sh743m recovered in anti-corruption war

Some Sh743 million worth of stolen assets and cash were traced and frozen in the past 11 months as the newly established Asset Recovery Agency (ARA) flexed its muscles in the war against corruption.

The agency says in a newly released report that most of the assets are proceeds of crime from the National Youth Service (NYS) scandal that is still under investigation and prosecution by the various State agencies.

The list of recovered assets includes five plots of land worth Sh169.2 million, five motor vehicles valued at Sh43.5 million, a city restaurant valued at Sh16 million and cash in various bank accounts totalling Sh128.6 million.

The remaining Sh385.9 million are in the form of assets frozen in a tax evasion case involving Eastleigh Mall where the ARA has obtained court orders barring the owners from selling or transferring assets until an application to take control of the building to recover unpaid revenue has been determined.

ARA director Muthoni Kimani told Parliament that the agency is facing challenges involving human resource capacity and limited resources that have prevented it from aggressively going after the thieves.

“Unfortunately we do not have enough people with the skills in financial and forensic audit to help us achieve full potential,” she told the Senate Public Accounts and Investments Committee (PAIC).

Read the full story here.

SOURCE: Business Daily