Jimmy Mutuku Kiamba Wealth – Former Nairobi County Chief Finance Officer

Jimmy Mutuku Kiamba Wealth – Former Nairobi County Chief Finance Officer

This is the outline of Jimmy Mutuku Kiamba Wealth. Jimmy Mutuku Kiamba is the Former Nairobi County chief finance officer who amassed Sh800 million in cash, motor vehicles, buildings and land, which the government is now seeking to recover.

His 800 million wealth is half of the 1.6 billion that the national government is seeking to recover since it has been established that it was stolen from the Nairobi County Government Coffers.

It is revealed that he opted to invest the looted money in two maisonettes in Nairobi South C, a plush town house in Kileleshwa, four apartments in Kilimani and eight plots in Muthaiga, Mavoko and Machakos. He also owns a fleet of six cars.

Jimmy Mutuku Kiamba Wealth
Jimmy Mutuku Kiamba Wealth

The Ethics and Anti-Corruption Commission (EACC), which has taken Mr Kiamba to court, says he amassed the wealth between January and November 2014.

The EACC says Mr Kiamba’s two bank accounts with CFC Stanbic Bank were used to transact more than Sh400 million during the period.

This is in sharp contrast with his modest Ksh. 85,000 monthly salary that he draws from the county.

Documents presented in court by EACC details a series of multiple cash deposits nearly on a daily basis to Kiamba’s nine accounts in five local banks.

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Five of the accounts are held in CFC Stanbic Bank Ltd while the remaining four are held in Standard Chartered Bank, Co-operative Bank, Equity Bank and Gulf Africa Bank Ltd.

Of the five accounts at CFC Stanbic, one belongs to Jimbise Ltd, a company formed in 2010 and which Kiamba and his wife Tracy Mbinya Musau are directors. However, only a fraction of the money, Sh45 million, was deposited in Jimbise’s accounts between April 2011 and October 2014.

Incredibly, between August 2009 and February 2015, Kiamba’s gross salary as a public officer was only Sh8.5 million, a yawning difference between his vast wealth and his known income.

Mr Kiamba has defended himself as an astute businessman who made his fortune by, among other things, selling water from his borehole to residents of Machakos County.

He told EACC investigators that he also buys and sells cattle in Narok and grows wheat and maize in the same region. He also said he earns a fortune from rental income.

From his explanation, one would expect his accounts to reflect a common mans balance sheet but according to banks records, he deposits an average of Ksh. 50,000 to Ksh. 50,000,000 a day

Between April 2010 and December 2014, more than Sh300 million was deposited in his account at Standard Chartered, Machakos Branch.

Between February 2013 and November 2014, a total of Sh31.9 million was deposited in his Co-operative Bank account in Athi River.

Between March 2013 and November 2014, a total of Sh286 million was deposited in his account at Equity Bank, Equity Centre branch. However, of this amount, Sh180 million is a loan he was advanced in November 2014 by the bank, and thus Sh106 million was deposited by him or other people.

A total of Sh39 million was deposited to his account at Gulf African Bank, Kenyatta Avenue branch, between March 2014 and November 2014. By far the largest, deposits totaling Sh402 million were made to his CFC Stanbic Bank account, Harambee Avenue branch, between November 2012 and November 2014.

Deposits totaling Sh162 million were made to another of his accounts in the same bank in the same branch between May 2010 and July 2014.

Mr Kiamba also holds a dollar account at CFC Stanbic Bank, Harambee Avenue, which had been credited with a total of $64,000 (about Sh6.2 million) between September 2012 and July 2014.

About Laban Thua Gachie 30956 Articles
I am a proud Kenyan. I have a Bachelors Degree in Communication and Media Technology from Maseno University. I am an Online Content Developer for Kenyanlife.com and Catholicreadings.org. My passion is helping others realize their passions and dreams so that they can live a decent and fulfilling life.

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