27 Nov 2012 in National Assembly:
Mr. Temporary Deputy Speaker, Sir, I would like to thank Mr. Koech for coming up with this amendment. As you know, Kenya has become a very litigious society. It would have been possible for an activist to go to court and challenge the formula on the basis that the formula that was approved by Parliament was not the formula that was recommended by the Committee but the formula that was recommended by CRA. CRA’s was a mere recommendation. It was up to the Committee to look at it and then come up with its own recommendation. I thank Mr. David ...
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22 Nov 2012 in National Assembly:
Mr. Speaker, Sir, I beg to reply. (a) I confirm that a number of remedial measures for violations of Sections 10, 11, 30 and 50 of the Banking Act, CBK Prudential Guidelines/ Regulations are employed and among them is closure of a bank or cancellation of a banking licence. (b) I further wish to confirm that we have had violations of the said sections of the Act and of the CBK Guidelines/ Regulations by commercial banks over the stated period. However, I am unable to divulge specific details in respect of any particular institution as the information is privileged and ...
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22 Nov 2012 in National Assembly:
Mr. Speaker, Sir, I think it would be important for the benefit of this House that I read this Section 32(c). It states as follows:- “All information obtained in the course of the inspection shall be treated as confidential and be used solely for the purposes of this Act, which is the Banking Act and the Central Bank of Kenya Act.” Mr. Speaker, Sir, I know that Parliament is not included here. What I am saying is that, I have already confirmed that certain banks have violated Sections 10, 12 and 50 of the Banking Act. That violation may not ...
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22 Nov 2012 in National Assembly:
Mr. Speaker, Sir, yesterday, hon. Ethuro sought a Ministerial Statement on the status of the CDF. I just wish to say the following. The Printed Estimates were of Kshs21,763,000,000. The half year allocation as at December should be Kshs10,881,500,000. We have made Exchequer releases as follows. On 14th August, we released Kshs7 million, which was the amount that the Members had requested and had been approved by the Board. This amount has been exhausted. Yesterday, 21st November, I released another Kshs1.5 billion again to take care of all the requests that the Members have made. I wish to confirm the ...
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22 Nov 2012 in National Assembly:
Mr. Speaker, Sir, there are still a few gentlemen left in this world and I am one of them. I gave my word and I intend to keep it. Prudent cash management dictates that there will be no point of allocating funds to the Board for those funds to lie idle when there are other departments that require money. So, I am assuring this House that there will be no CDF application that will be unmet. The moment the applications are there and we know the amount, we will provide the exact amount, so that no application will be unmet. ...
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22 Nov 2012 in National Assembly:
Mr. Speaker, Sir, Treasury does not construct roads. We fund the Ministry of Roads. We do not deal with the contractors. We have no idea who the contractor is. We have no idea about the condition of the road is, and I beg my friend to refer the issue to the Minister for Roads. Maybe he would give a reason why they would suspend but there is no project that has been budgeted for that has been suspended.
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22 Nov 2012 in National Assembly:
Mr. Speaker, Sir, I would like to assure the hon. Member that the Government is impressed by the work that he is doing in the PAC and he needs to be commended because he is doing the proper work of a PAC; to supervise and oversee the performance of Government. Please, continue doing so, so that all the Ministries use funds in the right, prudent and efficient manner. Please, continue since we are impressed and, in fact, you should be favoured and not discriminated against.
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21 Nov 2012 in National Assembly:
Mr. Deputy Speaker, Sir, this is something that we could ask the Central Bank of Kenya to shed more light on as to why they would employ a person who is already suspected of committing a fraud. I am just wondering how it can be done unless there is a new Question. You cannot have a Question being answered by two Ministers.
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21 Nov 2012 in National Assembly:
Mr. Deputy Speaker, Sir, I do not know what is happening because I cannot see the Leader or Deputy Leader of Government business here. Maybe you could defer the Question and then I will inform the Minister that he should be here whatever day that you decide.
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21 Nov 2012 in National Assembly:
Mr. Deputy Speaker, Sir, I am sorry the Minister for Local Government and the Assistant Minister are not here. I request that we defer it to tomorrow and I will make sure that I inform them to be here.
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