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{
    "id": 189826,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/189826/?format=api",
    "text_counter": 105,
    "type": "speech",
    "speaker_name": "Mr. Okemo",
    "speaker_title": "",
    "speaker": {
        "id": 198,
        "legal_name": "Chrysanthus Barnabas Okemo",
        "slug": "chrysanthus-okemo"
    },
    "content": "Mr. Speaker, Sir, I stand to seek a Ministerial Statement from the Minister for Finance. We have information to the effect that there were some loans which were extended to private companies and individuals by the National Bank of Kenya totalling to about Kshs20 billion. The Attorney-General's legal opinion was sought on the same and he gave his opinion saying that those could not possibly be classified as loans guaranteed by the Government. Mr. Speaker, Sir, the Government does not guarantee loans by individuals or private companies. The Minister for Finance, sometime last year, undertook to repay those loans, and actually wrote a cheque of Kshs20 billion and paid it to the Central Bank of Kenya (CBK). The same cheque went through CBK and went back to the Government, which means that they did not pay them. What is more interesting is that National Bank of Kenya (NBK) went ahead and floated a 20-year Bond which was not supported by anything, because the money went back to the Government. So, I would like the Minister for Finance to come and clarify, first, the issue of why loans borrowed by private companies and individuals should be paid by the Government. These are companies of people who are known; they have the ability to repay."
}