Eng. Nicholas Gumbo

All parliamentary appearances

Entries 3061 to 3070 of 3504.

• 4 Aug 2011 in National Assembly: (d) explain what the Ministry is doing to address the ongoing wrangles at the IIEC to ensure that the credibility of the Commission and confidence of the Kenyan public in general is upheld in our electoral process. view
• 4 Aug 2011 in National Assembly: On a point of order, Mr. Temporary Deputy Speaker, Sir. This matter is actually very urgent. You know that we have a by-election in this country in two weeks time. The information I have asked for here should actually be held in the IIEC databank. Surely, Thursday is too long. view
• 4 Aug 2011 in National Assembly: Madam Temporary Deputy Speaker, I want to thank my friend, hon. Lekuton, for bringing to this House this very timely Bill, which I think should have come here many years ago. view
• 4 Aug 2011 in National Assembly: Madam Temporary Deputy Speaker, as I speak now, billions of shillings are actually lying unclaimed in travellers cheques, money orders, ordinary cheques, bankers cheques, deposits for electricity, telephone, water services, insurance premiums, shares and so on. These are money that belonged at some point to some Kenyans somewhere, but because of one reason or the other, they are unable to claim it. This money is lying unaccounted for in the hands of holders who, for instance, are only too reluctant to disclose. view
• 4 Aug 2011 in National Assembly: Madam Temporary Deputy Speaker, as I speak, chances are that almost all members in this House have some unclaimed assets sitting in some bank, traveller’s cheques, electricity deposits, water and telephone deposits that have not been claimed. Therefore, this is not just a Bill that we are trying to pass to help the ordinary Kenyan. This is a Bill that will help virtually everybody. I remember many years ago when I left the university, I tried to buy shares in a company which changed names many times. Only recently, I realized that I had some shares there. However, this company ... view
• 4 Aug 2011 in National Assembly: From what my good friend has stated, banks, financial institutions, pension fund custodians, phone, water, electricity, fund managers and even Government departments, are holding billions of shillings of unclaimed assets. As I speaker, the estimates we have in the country maybe as much as Kshs200 billion or even more. These are huge amounts of money to be held in a country like Kenya whose annual budget is Kshs1 trillion. We are looking at about 20 per cent of the annual budget. That is a huge sum of money. In fact, some of us feel that some of the huge and ... view
• 4 Aug 2011 in National Assembly: I, therefore, urge that we have clear structures on how we will utilize this money once it gets to the authority. I will be interested to know and the impetus will be there, if I knew, for example, that Kshs150 billion is with the Unclaimed Assets Authority and Kshs1billion is going to Rarieda, it will give the impetus to follow this matter. We have discussed these issues and I urge my good friend to form a structure, so that there is no vagueness in the way this money will go to social services in the country. Madam Temporary Deputy Speaker, ... view
• 4 Aug 2011 in National Assembly: I think we need to be more emphatic on this. Let us compel the holders of these assets to declare them. Let us specifically, and in this Act, compel them that if they do not--- As we compel them, let there be a penalty for giving the wrong information in the first place and for not disclosing within a specific period. view
• 4 Aug 2011 in National Assembly: Clause 33 states: “A person who fails to pay or deliver assets within the time prescribed by this Act---” I know you have proposed a penalty, but look at it this way. This is money that these people use to generate other monies. Is it good enough? They should not just declare the money, but also account for it. As we go to the Committee Stage, these are the areas where we shall be proposing some amendments. view
• 4 Aug 2011 in National Assembly: Once again I thank my brother, Mr. Lekuton for coming up with a timely Bill. With those remarks, I second and urge my colleagues to pass this good Bill. view