Economy

EACC recovers assets worth Sh25bn in one year to June

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The Ethics and Anti-Corruption Commission headquarters at Integrity Centre, Nairobi. FILE PHOTO | NMG

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Summary

  • EACC reckons that the land, high-end homes, office blocks topped the list of assets that the anti-graft agency established to have been bought using illicit cash.
  • The commission focused on high impact investigation based on public interest, value of loss and personalities involved.
  • The commission cut the number of corruption and economic crime cases investigated by a third to 163 from 234 as it gave priority to those involving high values of money.

The anti-graft agency recovered assets worth Sh25.3 billion in the financial year ended last June, highlighting the impact of going after high value fraud cases.

Documents shared with National Treasury shows that the Ethics and Anti-Corruption Commission (EACC) latest recoveries jumped 5.6 times compared to the previous year’s Sh4.5 billion

The latest recoveries are more than the Sh22.56 billion that the commission had cumulatively recovered in cash and immovable property between 2003 and end of December 2019.

EACC reckons that the land, high-end homes, office blocks topped the list of assets that the anti-graft agency established to have been bought using illicit cash.

The recoveries came in the period that EACC says it also received and investigated 31 intelligence reports and averted the loss of Sh10.03 billion in contrast with the previous financial year when it prevented Sh14.89 billion loss.

During the review period, the number of corruptly acquired assets that were traced and recovered also quadrupled from 22 to 88 in the period EACC increased its aggressiveness in going after corrupt individuals.

EACC says that it reverted to project-based and high impact cases in change of act. The commission has in the past attracted criticism for avoiding high value cases.

Chief executive Twalib Mbarak told the Business Daily the commission focused on high impact investigation based on public interest, value of loss and personalities involved.

“There was change of strategy where asset recovery mainly targeted illegally acquired public land,” said Mr Mbarak.

Mr Mbarak added that the hastened court process in the land and environmental court also boosted the recovery efforts.

The commission cut the number of corruption and economic crime cases investigated by a third to 163 from 234 as it gave priority to those involving high values of money.

EACC usually files cases in court seeking recovery, seizure and confiscation of unexplained assets, a process that sometimes take long to yield fruits.