Former Finance minister Amos Kimunya Monday told the anti-corruption court that he did not revoke the promissory notes issued to one of the Anglo Leasing firms.
The State had promised to pay Infortalent Ltd for the supply of security equipment through the notes, which then Attorney- General Amos Wako said they could not be revoked.
A promissory note is a financial instrument that contains a written pledge by one party to the other a defined sum of money, either on demand or at a specified future date.
Mr Kimunya, who was moved to the Ministry of Finance from Land ministry in 2006, said he was against the use of the notes because the contracts were being investigated by the Kenya Anti-Corruption Commission (KACC).
“This was not a revocation. It was buyer beware. We did not want to prejudice anybody who may innocently trade with them in the international market when they were contested,” Mr Kimunya.
Attorney-General’s opinion was that each promissory note constituted an unconditional promise from the government to pay on demand the sum stated in the notes.
Under the contract, Infortalent was contracted to supply security equipment to the police, and also modernise police operations.
Lawyer Paul Nyamodi representing the accused had sought to know whether the letter by Mr Kimunya in 2007 was an attempt by the government to revoke the irrevocable promissory notes, or vary the terms of the promissory notes to include a requirement that KACC chairperson be consulted when such a requirement was not provided for at the point they were issued.
“I remember it was a few weeks to elections and even though Infotalent had returned all the promissory notes it had received from the government, and the same were cancelled, I had to issue the letter because we had received information there were some fake promissory notes which could be in circulation,” Mr Kimunya.
Mr Kimunya, currently the Kipipiri MP, was testifying in a case where former government officials and local business persons have been charged over the multi-billion shilling Anglo-Leasing contract, which the government later cancelled.
Hearing resumes Tuesday.
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