Puzzle of counties running 1,400 illegal bank accounts

Controller of Budget Margaret Nyakang’o. FILE PHOTO | JEFF ANGOTE | NM    

By PETER MBURU More by this Author

County governments are operating more than 1,400 accounts in Kenyan commercial banks, in breach of the law that requires them to hold their cash at the Central Bank of Kenya (CBK).

The Controller of Budget has raised alarm over the oversight that has seen counties like Bungoma run 321 accounts, Migori 208 accounts and Kwale 165 accounts at commercial banks.

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