Wanjigi Flags Alleged Sh150.7bn Treasury Discrepancy, Claims Possible Financial Irregularities in Budget Records

Safina Party leader Jimi Wanjigi addresses the media in Nairobi, raising concerns over alleged discrepancies in the March 2026 budget outturn and questioning the handling of Sh150.7 billion in Treasury accounts.

By: Gladys Karuga

Safina Party leader Jimi Wanjigi has raised alarm over what he says are inconsistencies in the March 2026 budget outturn report, questioning the management of Sh150.7 billion reportedly held outside the Consolidated Fund.

Addressing journalists at the party headquarters, Wanjigi rejected the National Treasury’s explanation that the issue stemmed from a clerical mistake in the Kenya Gazette, insisting the discrepancies suggest deeper problems in public finance reporting.

He argued that the budget outturn, which should clearly reflect government revenue and expenditure, appeared distorted and misleading.

“This completely undermines public trust,” he said.

Wanjigi pointed to inconsistencies between Kenya Gazette notices number 5726 and 5803, which he said reflected serious administrative negligence that could amount to economic mismanagement.

According to him, the initial notice duplicated a revenue figure of Sh3.36 trillion under recurrent expenditure, implying the government had spent all its revenue while excluding development spending.

“This is not a minor oversight. It is a display of carelessness,” he said.

He further claimed that the Department of Performance and Delivery, which had initially been allocated over Sh129 million, disappeared entirely in the revised notice, describing it as a “vanishing department.”

Wanjigi also highlighted sudden changes in budget allocations, including Sh295 billion for the Teachers Service Commission and Sh123 billion for the Ministry of Defence, saying the adjustments were not clearly explained.

He further noted that the State House budget reportedly rose sharply from about Sh529 million in the earlier notice to approximately Sh12 billion in the revised version.

However, he said the most concerning issue was the Sh150.7 billion recorded under a sovereign bond proceeds account, which he claimed was not reflected in the Consolidated Fund as required by law.

“Every shilling borrowed in the name of the people must be deposited in the Consolidated Fund,” he said.

Wanjigi warned that keeping such funds outside the official government accounts weakens oversight by Parliament and the Auditor-General, and creates room for opacity in public spending.

“By keeping this money off the official books, the Treasury is removing oversight and creating a shadow account,” he said.

He also questioned the origin of the funds, stating there is no public record of a Eurobond issuance matching the amount within the period in question.

Wanjigi urged Treasury Cabinet Secretary John Mbadi to disclose the account holding the funds, release certified financial statements, and account for any interest accrued.

“We deserve a precise balance sheet, not vague approximations leaving billions unaccounted for,” he said.

He further linked the alleged discrepancies to what he described as a tightening liquidity situation in government, accusing authorities of resorting to questionable accounting practices to manage fiscal pressure.