By Alice Njeri
The Central Bank of Kenya (CBK) has backed a petition challenging the country’s debt management practices, signalling a major push for economic accountability.
The petition, filed by activist and Busia County Senator, Okiya Omtatah and others, accuses authorities of illegal borrowing, debt mismanagement, and violating public finance laws.
“The Central Bank of Kenya (CBK) has officially backed our petition on Odious Debt,” said Omtatah.
The CBK filed a response supporting the selection of a multi-judge bench to hear the case. They argued that the petition raises serious constitutional questions, including violations of laws governing public finance, which could affect Kenya’s economic stability.
“In court filings, CBK affirms that the petition raises substantial constitutional questions on illegal borrowing, debt mismanagement and public finance abuse,” continued Omtatah.
The case also involves the Ethics and Anti-Corruption Commission, the Senate, and other key institutions as respondents.
According to the CBK court filing, the matters raised in the Petition and the Application relate to the constitutionality and legality of Kenya’s public debt borrowing, which are issues that directly impact the country’s economic stability.
“The outcome of the Petition will, in all likelihood, have a direct impact on the Kenyan public, particularly in respect of public finance management and constitutional accountability and as such, the weight, sensitivity, and public interest surrounding the Petition call for collective judicial thought,” said the CBK in their court filing.
According to the CBK, the issues raised have not been settled by the superior courts, including the Supreme Court. The Petition exposes a state of uncertainty in the law and raises complex constitutional questions.
Omtatah emphasized that justice was now closer than ever, which would be economically liberating for Kenyans.
“A monumental step in the fight for justice, accountability and economic liberation for Kenyans, now and in future,” said Omtatah.