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{
    "id": 683531,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/683531/?format=api",
    "text_counter": 231,
    "type": "speech",
    "speaker_name": "Hon. Keynan",
    "speaker_title": "",
    "speaker": {
        "id": 41,
        "legal_name": "Adan Wehliye Keynan",
        "slug": "adan-keynan"
    },
    "content": "You can imagine that the YEDF is a critical institution. First of all, how did they end up getting surplus funds to deposit in that bank? What was even more shocking is that the National Treasury has over the years issued prudential guidelines to all Government-owned agencies to invest any surplus money in Government-owned banks. This particular transaction was contrary to the National Treasury Circular that required any Government investment or institution to seek the approval or guidance of the National Treasury on matters of how they will invest surplus money. This was done behind the back of the National Treasury officials. The only suspicious thing is that a Director from the National Treasury who normally sits on the Board, either by design or otherwise decided not to brief his Ministry on this suspicious transaction. Eventually, everybody was surprised when the entire money was paid to a company that never rendered any service; a company that we do not know whether it exists legally or a service another company had been contracted to render a few years earlier and the service was in place."
}