Connect with us

Business News

EACC releases list of frozen assets




EACC chief executive Halakhe Waqo. FILE PHOTO | NMG 

The Ethics and Anti-Corruption Commission (EACC) has frozen assets worth Sh2.3 billion in the year to June 2018, a new report tabled in Parliament shows.

The commission says it recovered illegally acquired assets valued at approximately Sh352,185,804 through court proceedings and out-of-court settlements.

“The commission completed 14 asset tracing inquiries in respect of public assets illegally acquired.

“The assets include land/immovable properties and cash. The total estimated value of the assets is Sh2,320,140,000,” Halakhe Waqo, the outgoing chief executive said in the annual report tabled in Parliament on Tuesday.

Land belonging to Isiolo Prisons worth Sh710 million tops the list of the assets that the anti-corruption agency has traced and frozen, pending recovery.

The commission said the Isiolo GK Prisons land has been subdivided into two, but it placed a preservation order restricting transactions on the same, and issued a caveat on land worth Sh500 million that belongs to the Kenya School of Law.

Also frozen is Sh491.1 million in cash that was part of the Mobile Clinics project run by the Ministry of Health.

The EACC said it has placed a caveat on land belonging to Garden Estate Secondary school worth Sh350 million.

A similar caution ring-fences three plots worth Sh105 million owned by the State department for Housing in Meru and another Sh30 million belonging to the department.

According to the commission, an alternative dispute resolution plan is on the cards over the recovered cash.

It has issued a preservation order on cash worth Sh60 million that belongs to the Ministry of Public Service, Youth and Gender Affairs while another Sh45 million belonging to the National Youth Service has been restricted and cannot be transacted.

The EACC says it has filed 26 applications in court for preservation of assets valued at approximately Sh2.6 billion.

On the list of recoveries are Sh2.9 million belonging to the Kenya Pipelisne Company, the Kenya Revenue Authority (Sh60 million), Kenyatta International Convention Centre (Sh5.5 million), Muranga County Assembly (Sh223,915) and Administration Police (Sh55,000).

Land or immovable property recovered include Sh75 million for Nairobi County, Ministry of Transport (Sh40 million), Uasin Gishu County (Sh32 million), Kenya Railways (Sh55 million) and Kenya Railways-Kisumu (Sh50 million).