Prosecutor says no crime found in use of eurobond funds

June 1, 2016 6:01 AM

"Upon independent review...I have found no evidence to support the allegation about the alleged misappropriation of 250 billion shillings or any part thereof," Tobiko said in a statement.

Kenya's Director of Public Prosecutions Keriako Tobiko smiles inside the High Court in Nairobi, file.

The Kenyan prosecutor's office said on Tuesday it had found no evidence that proceeds of 250 billion shillings ($2.48 billion) raised from a eurobond had been stolen or misused and will not pursue criminal charges against any government officials.

In January, Director of Public Prosecutions Keriako Tobiko ordered the Ethics and Anti-Corruption Commission (EACC) to probe the use of the funds after opposition leader Raila Odinga said the government could not account for 140 billion shillings from the sovereign bond.

"Further, I have found no evidence disclosing any criminality of any government officials. In the premises and, as matters stand now, there is no evidence upon which a prosecution may ensue."

However, Tobiko said the office of the Auditor General ought to carry out a special audit to ascertain that the ministries and other government agencies that received the eurobond's proceeds had put it to proper use.

Corruption has been a big hurdle to doing business in Kenya though the government has taken more than 300 graft cases to court, part of a crackdown on the scourge by President Uhuru Kenyatta.