Kenya is set to receive Ksh 380 million from Jersey Island, money suspected to be proceeds of corruption after both governments agreed on 3rd March 2016 to see the return of the assets.
This is after the government of Jersey seized Ksh 520 million in an offshore account, stashed by former parastatal chief Samuel Gichuru and former Energy minister Chris Okemo.
A statement sent to newsrooms yesterday from Jersey authorities, through the British High Commission in Nairobi, says the agreement is to secure the return of the funds that were confiscated by the Royal Court of Jersey in February 2016 after the defendant company Windward Trading Limited pleaded guilty to four counts of laundering the proceeds of corruption.
Gichuru was the chief executive of the Kenya Power and Lighting Company during the period on the indictment,
Jersey Authorities have been pushing for the extradition of Okemo and Gichuru to face money laundering and fraud charges in Jersey in connection with Windward’s activities. Even though the Attorney General of Jersey requested their extradition in June 2011, the proceedings are still ongoing.
“We are delighted to reach agreement with the Government of Jersey on this important matter. We welcome the positive cooperation between Kenya and Jersey and look forward to an enhanced partnership in future,” National Treasury PS Kamau Thugge said when he signed the agreement on behalf of the Kenyan government.
Senator Ian Gorst, Chief Minister of Jersey, said, “The process is one that has understandably taken some time because of the legal complexities of confiscation and asset sharing. The completion of this agreement is a step towards ensuring these funds are returned to the people of Kenya, where they rightfully belong.”