This follows her plea of not guilty to four charges in a Mombasa Court on Tuesday, November 5, where she was one of 11 individuals implicated in offences including conspiracy to defraud, operating an unlicensed Sacco, forgery, and uttering false documents.
The charges stem from an inquiry file initiated by the Directorate of Public Prosecutions (ODPP) and handed over to the Directorate of Criminal Investigations (DCI).
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Dr. Nyakang’o, known for her vocal stance on matters of public expenditure, has been a crucial figure in assessing and highlighting financial concerns. Recently, she warned of potential challenges facing the government in rendering essential services.
Her observations focused on the weakening shilling against the dollar, leading to a substantial increase in public debt.
In her National Government Budget Implementation Review Report for 2022/23, she articulated, “The continuous depreciation of the Kenya shilling will necessitate an increase in the amount required for loan repayments.”
This situation, she emphasized, poses a threat to the government’s fiscal space, limiting the implementation of critical policies and programs. It could inevitably result in budget adjustments, affecting the delivery of essential public services.
The unfolding legal proceedings add a layer of complexity to the already challenging economic landscape, raising questions about the potential impact on budgetary oversight and financial governance in the country.
Nyakang’o and the ten others were found culpable after a thorough examination of new evidence according to the inquiry file.
