Tuesday, August 9, 2022

Ferdinand Waititu at risk of losing Sh. 1.9 billion wealth

Former Kiambu Governor Ferdinand Waititu is at risk of losing assets estimated to be worth Sh. 1.9 billion. This is after the Ethics and Anti-Corruption Commission (EACC) filed a case seeking to recover properties and money in accounts owned by Waititu and his relatives.

The EACC has told the court that Waititu acquired the property together with his spouse acquired the property between 2015 and 2020.

Within that time, Waititu served as the MP for Kabete Constituency and later as the Kiambu governor. “The Commission pursuant to its investigations established that between January 2015 and July 2017 and August 2017 and January 2020… he amassed wealth to the tune of Sh. 1,937,709,376.54 which is not commensurate to his known legitimate sources of income,” the EACC said.

The EACC has targed houses in Runda, Lakisama, Migaa Estate, Runda Grove and parcels of land in Embakasi Ranching, Thindigua and Kayole. These houses are estimated to be worth Sh. 280 million.

There are also seven vehicles all valued at Sh. 24.4 million and money in various bank accounts. The EACC says that some of the properties in Kabete area in Kiambu and Kitengela in Kajiado County have been registered in his wife’s name.

Other properties have been registered in the name of his companies. These companies include  Saika Two Estate Developers Ltd, Lexis International Ltd and Bins Management Services Ltd.

New Pension Towers building in Nairobi that has made headlines in China

The EACC has valued two prime buildings on Biashara Street and a hotel at Sh. 662 million. These were allegedly acquired them between 2017 and 2018 when he was the governor of Kiambu County.

The EACC says that Waititu and his wife and companies made cumulative deposits of Sh. 1.3 billion. The EACC adds that between January 2015 and January 2020, Waititu did not submit his statutory declaration for his income, assets and liabilities under the Public Officer Ethics Act, and Leadership and Integrity Act.

Did you love the story? You can also share YOUR story and get it published on Bizna Click here to get started.

Connect With Us

283,591FansLike
13,557FollowersFollow
7,701FollowersFollow
1,310SubscribersSubscribe

Latest

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related

error: Content is protected !!