Countdown to ending era of commercial banks holding Kenyan taxpayers’ money
Reports by the auditor general and controller of budget have revealed massive wastage and looting of public funds by national and county governments and state corporations and SAGAs. PHOTO | SHUTTERSTOCK
Commercial banks in Kenya have about two weeks to disclose details of government accounts they are holding as part of a bigger plan to consolidate public funds from multiple bank accounts into a single account.
National Treasury’s Director General in-charge of Accounting Services & Quality Assurance Bernard Ndung’u said the banks should submit details such as number of government accounts, identity of accountholders, the type of the accounts and the value of the accounts.
