Why the math doesn’t add up in Eurobond saga

Controller of Budget Agnes Odhiambo. The Controller of Budget is the gatekeeper of the Exchequer account. FILE PHOTO | DIANA NGILA | NATION MEDIA GROUP.

What you need to know:

  • Simply, the article says that all national government revenues must be paid into the Consolidated Fund — also known as the Exchequer account.
  • The money must go into the Exchequer account, which is subject to multiple audits first by the Controller of Budget, secondly, the Auditor-General and finally by the National Assembly.
  • Considering that we earned Sh173.91 billion ($2 billion) from the Eurobond in June 2014 plus another Sh73.8 billion , making a total of Sh247.7 billion ($2.81billion) — this leaves a gap of Sh86.07 billion.

To get to the bottom of the Eurobond saga, you start by going to Article 206(I)A of the Constitution.


You're all set to enjoy unlimited Prime content.