muganda wrote:CBK Governor, Patrick Njoroge, Thu 21 Jan:
Claims that $999 million (Sh100 billion) is missing from the CBK accounts are far from the truth. There was a balance $999 million in JP Morgan sovereign bond account and the National Treasury instructed the CBK to transfer the balance from the sovereign bond account at CBK and close the JP Morgan account.
So the CBK acquired the $999 million and credited the National Treasury account with Sh88 billion. That is the simple transaction and this we do all the time.
The account that was credited with the US dollars is a CBK account in the Federal Reserve Bank of New York. We at CBK have accounts with so many other central banks in the world because we are regularly working with them in our normal course of business.
There was another transaction on December 17. The amount in US dollars was $815 million and it was converted to Kenya shillings at the then prevailing rate such that the Treasury account was credited with Sh73.8 billion.
There shall come a time when a nation becomes more important than an individual, at such a time an individual shall confess to having mislead the nation, seek forgiveness and promise to fire all his advisers for bringing the country's image to disrepute and injuring the reputation and character of hard working Kenyans.