Why MP Babu Owino Doesn’t Want Billions Stashed in Foreign Accounts Returned to Kenya

Embakasi East Member of Parliament Babu Owino says returning billions of shillings hidden abroad by graft lords is a bad idea.

Reacting to a deal for the recovery of the funds acquired through corruption in Kenya and stashed in foreign accounts signed between President Kenyatta and his Swiss counterpart Alain Berset on Monday, the MP said the funds should be used to repay the billions of shillings Kenya owes China. 

The deal is dubbed the Framework for the Return of Assets from Corruption and Crime in Kenya (FRACCK) and is backed by the United Kingdom and the Jersey Island.

Taking to Twitter, Babu argued that the cash would probably be looted again when returned to Kenya, stating that it should instead be channeled to China for debt repayment.

“The frozen Kenya’s money in Switzerland should be channelled directly to China as part of our debt repayment. Hio pesa ikirudishwa Kenya itapotea kwa upepo!” tweeted Babu.

In a statement, the President's office said the assets recovered under the framework will be used to fund projects in the health sector, one of President Kenyatta's big four agenda.

"A steering committee comprising the Executive Office of the President, the Attorney General, the National Treasury, the Assets Recovery Agency, Ethics and Anti-Corruption Agency and envoys or representatives representing the partner countries will be established to implement the deal."

"Parts of the roles of the team will be identifying potential assets to be recovered, identifying potential implementing organisations, decide unanimously on priorities for the use of returned funds, monitor progress in returning assets, receive reports on the progress of projects funded through recovered assets and learning lessons for future returns," a statement from the president's office read.

Kenya owes China billions of shillings given as loans for various infrastructural projects including the Standard Gauge Railway.