Kenyan authorities are probing a string of cash transfers amounting to KSh 25 billion from Nigeria and Hong Kong in what is suspected to be campaign funding.
The Assets Recovery Agency (ARA) which is investigating the matter says three Nigerians, suspected to enjoy the backing of a powerful politician, and two Kenyans wired the cash in US dollars and Euros between October and November 2020.
Local and international investigators including the Interpol have failed to establish where KSh 20 billion out of the KSh 25 billion went to. Only KSh 5.6 billion, which is a quarter of the amount has been froxen in six bank accounts.
The investigations further reveal that the KSh 20 billion could have been moved overseas through powerful local leaders in just one month in 2020.
An ARA officer on Tuesday, April 26, told the Daily Nation that a network of six firms moved KSh 25.6 billion from Nigeria to Kenya before wiring some of the funds to countries in Europe and Asia.
The cash movement over the two months involved over 10 companies owned by the same individuals and registered under near-identical names in Kenya, Dubai, the US, Nigeria, and Ghana.
Some of the companies include OIT Africa, Avalon Offshore Logistics, RemX Capital Ltd, RemX Ltd, RemX Investment Partners, and Multigate Ltd.
Multigate and RemX are among companies registered in Kenya, Dubai, and Nigeria and are at the heart of the money transfers.
ARA confirmed that it is interrogating shareholders of the listed companies.
The officer insisted that its investigations are ongoing and could see some of the suspects charged with money laundering and other economic crimes.
