Controller of Budget Exposes Ruto’s Unrestricted Spending Power
Contrary to popular belief, Controller of Budget (COB) Margaret Nyakang’o revealed on Thursday, July 6. That the Treasury can withdraw billions of dollars without her approval.
Nyakang’o explained in an interview with Spice FM. That she has no access to the Road Development Levy, Railway Development Levy, and Grants and Loans. Obtained by President William Ruto’s administration.
She explained that while Article 228 of the Constitution grants her broad authority. To oversee the implementation of the country’s budgets. By authorizing withdrawals from public funds, she does not have access to certain funds.
Nyakang’o explained that the Public Finance Management (PFM) Act. Only gave her authority over Consolidated Fund deposits for use by national and county governments.
According to PFM, the COB explained, funds from the aforementioned areas were used at the discretion of the Treasury Cabinet Secretary (currently held by Njuguna Ndung’u), who was appointed by the President.
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“The funds are spent directly with the authority of the National Treasury, and the CS has no responsibility to report to me,” she stated.
She responded, “The information is available on the National Treasury website, and I can only access it like every other Kenyan.”
Section 17 of the PFM Act stipulates that the National Treasury is responsible for maintaining the Consolidated Fund. But the Controller of the Budget must approve any withdrawals.
While the PFM Act does not require the Treasury CS to deposit funds raised from grants and loans into the consolidated funds. This demonstrates that the Njuguna-led Ministry has the discretion to make such deposits.
Section 50 of the Act states, “The Cabinet Secretary shall ensure that the proceeds of any loan raised under this Act are paid into the Consolidated Fund or any other public fund established by the national government or any of its entities, as determined by the Cabinet Secretary by regulations approved by Parliament.”
Nyakang’o explained that her office had taken measures. To ensure that all funds received by the government went through the Consolidated Fund.
“The law states that the COB receives all government expenditures,” she explained, reiterating the need for all grants, loans, and levies to be routed to the Consolidated Fund.
Controller of Budget Exposes Ruto’s Unrestricted Spending Power
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