Wanjigi: How Jubilee Created and Paid 10 Trillion Kenyan Shillings in Fake Loans

Disqualified presidential candidate Jimi Wanjigi has sensationally claimed that the public debt crisis facing the country is a fictional problem created by the Jubilee administration.

In a public statement on Sunday, July 24, the billionaire businessman claimed to have conducted Kenya’s first forensic public debt audit and made the shocking findings in a report titled Public debt robbery in Kenya.

According to Wanjigi, the original sin was committed in 2014 when the Public Finance Law was amended. Amendments made by Parliament allowed the government to borrow and made exceptions to the Constitution which requires all money borrowed by the government to be handled through the Consolidated Fund (the main government account).

Businessman Jimmy Wanjigi at a presser when he claimed the government heist to inflate public lending on July 24, 2022.

“The changes were unconstitutional because an Act of Parliament cannot supersede constitutional provisions. But the new law is extremely absurd as it made extremely amorphous exemptions in clauses c and d of the PFM Act.

Party boss Safina added that his investigation of government books found that only Ksh 2 trillion in loans had been processed by parliament.

“These are the books of government and there is no creative accounting here, the records are published monthly and you can check what parliament has passed through appropriation bills. Despite the loan of 2 trillion Ksh that can be proven, the government claims to have Ksh 6.1 trillion in foreign debt which would mean Ksh 4 trillion is fake,” Wanjigi said.

To further complicate the situation, Wanjigi announced that he found no trace of domestic debt (money borrowed from banks through bonds and treasury bills) in any appropriations bill, which would mean that the money had never been spent on a project.

“This means that another debt of Ksh 2.9 trillion only exists on paper and has not been received in any government account,” he added.

According to his submission, a total of Ksh 6.9 trillion of money believed to be government debt could not be traced.

The plot thickens further, in terms of government debt repayment, Wanjigi claimed that his audit revealed that Ksh 5.6 trillion of taxpayers had been approved by Parliament and spent to pay off government debt. Kenya.

“As Kenyans we are suffering for nothing, we have taken out loans of Ksh 2 trillion but our tax dollars are more than enough to cover it as Ksh 5.6 trillion has been used since 2014 to pay off our debt Before 2014, we still had Ksh 2 trillion 0.3 trillion in debt inherited from the Kibaki government.

If you add, the total debt should be Ksh 4.3 trillion and if we have paid Ksh 5.6 trillion of that, we should have a surplus in our accounts. The truth is that at present not only is the Ksh 8.5 trillion figure released by the government wrong, but Ksh 1.3 trillion of taxpayers money is missing. It’s a Ksh 10 trillion robbery.”

His presentation included props borrowed from the popular Spanish Netflix series – Money theft.

The businessman promised to name people who would have benefited from the loan repayment for services and projects that did not exist. He added that his report corroborated President Uhuru Kenyatta’s statement that Ksh 2 billion is stolen daily.

Kenyans.co.ke could not independently verify the claims made by party boss Safina.

Businessman Jimmy Wanjigi at a presser when he claimed the government heist to inflate public lending on July 24, 2022.

Businessman Jimmy Wanjigi at a presser when he claimed the government heist to inflate public lending on July 24, 2022.