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'No evidence' of Kenyan Eurobond graft claims

01 June 2016, 08:32

Nairobi -Kenya's public prosecutor on Tuesday said he had found "no evidence" of graft or theft surrounding the country's 2014 multi-billion dollar Eurobond issue.

Opposition politicians had demanded the government explain how the proceeds from a $2.75 billion (2.6 billion euro) Eurobond issue were spent, sparking probes by the police and Ethics and Anti-Corruption Commission.

"As matters stand now, there is no evidence upon which a prosecution may ensure," Director of Public Prosecutions Keriako Tobiko said in a statement, closing a probe launched in December.

"I have found no evidence disclosing any criminality on the part of any government official," he added.

The finance ministry has always insisted the Eurobond money was properly spent.

Tobiko however recommended the auditor general check how the cash was used by government departments "to ascertain if there was prudent utilisation of the proceeds of the Eurobond and if the government got value for money."

Kenya is mired in corruption scandals. Last year an official audit could only account for one percent of government spending and a quarter of the entire $16 billion (15 billion euro) budget.



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