Dr. Margaret Nyakango, the Controller of Budget, was detained by police in Mombasa and is expected to face charges related to a complaint filed against her and 10 other individuals in 2016, prior to her appointment as the CoB.

She and the others are expected to be charged with running a sacco without a license and conspiring to commit fraud in violation of Section 317 of the Penal Code. Forgery and uttering false documents in violation of Section 353 of the Penal Code, as well as Section 24 read in conjunction with Section 66 of the Sacco Societies Act, 2008.

In a letter to the DCI on November 30, the Office of the Director of Public Prosecutions accepted the charges.

She reportedly got detained while being followed after a public event in Mombasa, according to sources.

The others are being sought for arrest, according to officials. Nyakango has been outspoken about public spending; she took office in June 2020 and recently issued a warning that the government might soon be unable to provide essential services because of the shilling’s decline against the dollar, which has caused a sharp rise in the nation’s debt.

Nyakang’o observes in her National Government Budget Implementation Review Report for 2022–2023 that the nation is susceptible to exchange rate and currency volatility due to the sizeable portion of its public debt that is denominated in foreign currencies.

“The continuous depreciation of the Kenya shilling will necessitate an increase in the amount required for loan repayments. This will erode the government’s fiscal space and limit the implementation of other critical policies and programs, resulting in budget adjustments,” Nyakang’o said.