Former Treasury Cabinet Secretary Ukur Yattani has been summoned by Parliament over the six billion Telkom buyout saga to facilitate the exits of Helios investment partners.
The summon comes days after the Departmental Committee on Finance and National Planning announced that it would probe the former Treasury CS, former Principal Secretary Julius Muia, and the Controller of Budget Margaret Nyakang’o to establish if they undertook due diligence when processing the transaction.
“Besides these former and serving officials, the Committee has enlisted the Attorney General, Telkom Management, Jamhuri Holding Limited, Communication Authority of Kenya, Capital Marketing Authority, and the Kenya Revenue Authority to appear before the Committee to aid the inquiry,” the committee said in a statement.
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The Kimani Kuria-led committee also stated that it is seeking to establish if the law was followed during the transaction as per article 233 of the constitution.
“The Legislators also seek to establish the regulatory and statutory approval granted by the Communication Authority of Kenya and Capital Markets Authority for the acquisition of Telkom shares by Jamhuri Holding Limited,” the committee stated.
Deputy President Rigathi Gachagua on March 3 claimed that former senior government officials looted the public coffers days before handing over power.
“Two days before elections, they stole KES 6 billion and pretended to sell some shares from Telkom. When there was a case before the Supreme Court, they stole another KES 10 billion purportedly to pay some contractors,” Gachagua said during a dinner at Crowne Plaza Hotel, Nairobi.
