Government Invites Kenyans’ Suggestions on Recovered Corruption MoneySeptember 12, 2019
The Kenyan government has invited the Kenyan public to participate in a proposed bill that will help determine what happens to proceeds of financial crimes that have been recovered from convicted criminals and corrupt officials.
In a public notice, the National Treasury and Planning ministry invited Kenyans to submit their proposals in line with the proposed Proceeds of Crime and Anti-money Laundering Regulations, 2019 Bill.
One of the government’s suggestions is that recovered assets such as cars and houses which may depreciate in value should be auctioned and the money raised wired into a Criminal Assets Recovery Fund.
Treasury PS Julius Muia said the funds should then be channeled to government bonds or to the government’s main account for use in infrastructure projects.
“Our intentions are very clear that proceeds from crimes and assets that are recovered should be applied for use in ways which will be for public advantage.
“It’s our hope that once we get the views from the public then the legislature will not take long so that the Fund is operational within this financial year,” Dr Muia explained.
Kenyans willing to participate in the process have been asked to submit their suggestions in a letter addressed to the Treasury PS through P.O. Box 30007-00100.
Participants can also drop the letter at the National Treasury Building on Harambee Avenue in Nairobi and through the email email@example.com.
Ⓒ 2019 Nairobi Wire