The Ethics and Anti-Corruption Commission (EACC) on Friday, December 8, recommended the prosecution of embattled Controller of Budget Margaret Nyakang’o in connection with the controversial Telkom Kenya buyout.
In a report published by the anti-graft commission, Nyakang’o’s name stood out in the list that also includes senior government officials in the former President Uhuru Kenyatta’s regime.
Also on the list is former Treasury Cabinet Secretary Ukur Yattani, former Treasury Principal Secretary, and a host of former Telkom Kenya executives.
According to the report published in the Kenya Gazette, EACC had concluded investigations into the controversial buyout that saw the government transact Ksh 6 billion days to the 2022 elections.
The investigations, EACC said, found that the acquisition of shares in Telkom Kenya from UK’s Helios Investment Ltd by the government did not meet the threshold as provided for in the law.
In addition, EACC reported that the Communications Authority of Kenya had not approved the move and neither did the Attorney General have a say in the buyout.
“Investigations further established that the Communications Authority of Kenya did not grant approval for acquisition of 60% shares of Telkom Limited by the Government of Kenya in the transaction under inquiry since part of the conditions given by the Authority were not met by Telkom Kenya Limited,” part of the report read.
EACC lists charges for Nyakang’o & company
As such, EACC in its report recommended prosecution of the named persons.
Nyakang’o and company, according to the report, will face charges including Conspiracy to commit an offence of economic crime and abuse of office.
In addition, the EACC recommended prosecution of the named persons over willful failure to comply with the law, fraudulent accusations, and three counts of money laundry.
According to the EACC, the report was awaiting response from the Directorate of Public Investigations (DPP).
Also Read: Parliament to Investigate Sh6bn Allocated for Telkom Kenya Purchase Four Days to Elections
More woes for Maragret Nyakango
The report came on the back of Nyakang’o’s recent woes that saw her arrested and arraigned in court over allegations of fraud and operating a SACCO without a license.
On Tuesday, December 5, Nyakang’o pleaded not guilty to the charges and was subsequently released on a Ksh500,000 cash bail.
Consequently, on Thursday, the Controller of Budget was handed a relief after the High Court suspended her prosecution until May 2024.
Also Read: Relief for Margaret Nyakang’o as Court Issues Directive on Her Case
Her name was roped into the Ksh6 billion Telkom buyout saga in 2023 after questions emerged over the procedure followed in withdrawing the sum from the Treasury.
In her response to MPs in April, Nyakang’o said that she had initially refused to authorize the withdrawal.
