Counties Risk Losing Millions Due to Illegal Bank Accounts Kenya’s Budget Controller, Dr. Margaret Nyakang’o, has raised concerns that county governments are operating hundreds of illegal bank accounts, potentially costing taxpayers millions of dollars. An audit conducted by Dr. Nyakang’o revealed that between June 2023 and January 2024, counties opened over 600 new bank accounts, bringing the total to approximately 2,000 during the first nine months of the 2023/2024 financial year. The proliferation of these accounts complicates the ability of the Budget Controller’s office to track public spending. By law, county government bank accounts are required to be maintained at the Central Bank of Kenya (CBK) for easy monitoring, with exemptions only for imprest accounts, petty cash, and revenue collection accounts. However, the report highlights that many counties are disregarding this regulation and using commercial bank accounts instead. Bungoma County leads the list with 352 such accounts, followed by Baringo (304), Migori (208), and Nyandarua (86). The concerns extend to potential misuse of funds. Some accounts are suspected of being used for private transactions, exposing taxpayers to significant losses. The report calls for County Executive Committee members to be held accountable for compliance with financial regulations. The CoB has repeatedly raised the issue of illegal bank accounts, emphasizing their vulnerability to abuse and the need for real-time access to county accounts to curb misuse. However, these efforts have faced challenges. The lack of transparency and the high number of suspicious accounts underscore the urgent need for stricter oversight and enforcement of financial regulations to protect taxpayer funds.Samsung has unveiled its latest foldable smartphones, the Galaxy Z Fold 6 and Flip 6, showcasing groundbreaking advancements in artificial intelligence (AI). These next-generation devices feature enhanced camera capabilities powered by AI algorithms that optimize image quality and offer professional-grade editing tools. The improved AI Scene Optimizer automatically adjusts settings based on the subject and lighting conditions, ensuring crisp and vibrant photos. Additionally, the Z Fold 6 and Flip 6 introduce AI-driven features designed to streamline communication and productivity. The AI-powered Bixby assistant now provides personalized recommendations and can proactively offer contextual help, making multitasking and app navigation effortless. Furthermore, Samsung has integrated AI into its gaming platform, allowing for immersive and optimized gameplay. AI-based graphics enhancement improves visual fidelity, while AI-powered optimization allocates resources efficiently for smoother performance. The Galaxy Z Fold 6 and Flip 6 also boast updated designs and display technologies. The Fold 6 features an expansive foldable screen with reduced creases for a seamless viewing experience. The Flip 6, on the other hand, offers a compact form factor with a larger cover display for easy access to notifications and quick actions. Samsung’s commitment to innovation and AI integration sets the Galaxy Z Fold 6 and Flip 6 apart in the foldable smartphone market. These devices showcase the company’s unwavering pursuit of merging cutting-edge technology with user-centric design.
Counties Risk Losing Millions Due to Illegal Bank Accounts
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