The National Treasury has denied reports of irregularities in Exchequer withdrawals, assuring the public of strict oversight procedures followed.
This follows reports by the media that the National and county governments had made irregular withdrawals of Sh 1.3 trillion from the Central Bank of Kenya in just seven months.
In response, the Principal Secretary, Chris Kiptoo, refuted the claims, stating that although the exchequer requests and withdrawals were not automated by the end of the 2023/2024 financial year, strict procedures were still followed. "While we await the official report from the Controller of Budget, The National Treasury wishes to clarify the facts that 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," stated Kiptoo on March 2.
