Following reports that over Ksh1.3 trillion has been withdrawn from the Central Bank of Kenya by both the national and county governments in just seven months, the National Treasury has responded.
In a statement on Sunday, March 2, Chris Kiptoo, the Principal Secretary, debunked the claims stating that although the exchequer requests and withdrawals were not automated by the end of the 2023/2024 financial year, strict legal and financial procedures were followed. "A section of the media has today published a report suggesting irregularities in Exchequer withdrawals, particularly claims of a Ksh1.3 trillion withdrawal over seven months.
While we await the official report from the Controller of Budget, The National Treasury wishes to clarify the facts," part of the statement read. "Until the end of the 2023/24 financial year, Exchequer requests and withdrawals were processed manually, as the system had not yet been automated.
However, all withdrawals followed strict legal and financial procedures, with every transaction subject to review and approval by the Controller of Budget, ensuring full compliance with public finance regulations." National Treasury Principal Secretary Chris Kiptoo during a press briefing on February 13, 2025.
