Top officials to be grilled over De La Rue

September 24, 2008 12:00 am

, NAIROBI, September 24 – The Parliamentary Committee on Finance, Planning and Trade on Wednesday said it would summon former Finance Ministers Amos Kimunya and David Mwiraria over the controversial De La Rue currency printing contract.

Committee Chairman Mr Chris Okemo said others to be questioned next week are former Central Bank of Kenya Governor (CBK) Andrew Mulei, Jacinta Mwatela (who was until a fortnight ago a deputy governor of the bank) and Finance Permanent Secretary Joseph Kinyua.

“The committee will grill senior officials at the Central Bank of Kenya and the Finance Ministry to give evidence concerning this contract,” said Mr Okemo.

He added that the committee would establish the motive of signing the contract and how it was terminated.

“We cannot be like printing pencils and papers; we want to establish the controversial termination and attempted re-tendering and the joint venture to the contract,” he said.

He said others to be grilled by the committee are current and former senior officials of CBK and Finance Ministry.

The De La Rue contract became a subject of discussion after Mr Kimunya was alleged to have signed the deal against advice by senior CBK officials.

Members of Parliament have since then demanded to know why the contract was signed under single sourcing and why Mr Kimunya cancelled the contract signed in May 2006 yet the contract was not entered into during his tenure.

It has been alleged that the government lost Sh2 billion in the contract with De La Rue.

The Finance Committee also announced it was investigating the Cooperative Bank Initial Public Offer and expected to summon the Capital Markets Authority, the Nairobi Stock Exchange officials, Cooperative Bank Managing Director and other senior officials at the bank.


The committee also said it was scrutinising several crucial Bills pending before the House.

Mr Okemo said the Money laundering Bill, the Banking Act (to check illegal charges by commercial banks before approval from the Finance Ministry), the Accountants Bill and the Kenya Petroleum Refinery Bill – to scrutinise the disposal of its shares – were being studied.


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