President Uhuru Kenyatta's nominee for Controller of Budget (CoB) post has disclosed her net worth amid intensive vetting by parliament.
Dr Margaret Nyakang'o told Parliament's National Planning committee that she's worth Sh68 million according to Business Daily.
Mrs Nyakang'o, a lecturer at KCA University, was nominated by the head of state to replace Agnes Odhiambo, who retired in September.
According to her, almost half of her wealth is part of an estimate of the home which she built mainly from the mortgage.
“We have just finished repaying the loan and I have taken half of that house and put it in my declaration as part of my net worth,” Mrs Nyakango told MPs.
She was accompanied by her husband, David Nyakango.
She regretted much spending by government on non-budgeted items, which she argued that has increased operational costs of the country.
The main task of the Controller of Budget is to approve the release of cash from the government’s main account — the Consolidated Fund Services — to ministries, counties and state agencies.
“We need to build capacity on budgetary controls. All releases of funds must be related to work plans but requests are made on plans that are not budgeted in the first place. Budgeted plans are then left out hence pending bills,” Mrs Nyakango said.
Should parliament approve her nomination, Nyakang'o will become the second CoB in the history of Kenya, an office created by the Constitution of Kenya 2010.