Pandora Papers: It’s Legal to have an Offshore Account Says, Raila Odinga
Orange Democratic Movement (ODM) leader Raila Odinga now says that having an offshore account is acceptable as long as parties can explain how they opened such accounts.
Gathogo Wanjiru 
Raila said in an interview with Chamgei FM that while he does not have any foreign accounts, it is fine for Kenyans who do provide they can account for the money in the accounts.
At the same time, the ODM leader said the focus should not be on the accounts but on how the money in the account was acquired.
“Hii ni mambo ya Pandoras box. Sioni kama kuna shida kuwa na account kule nje bora unaweza kusema jinsi ulifungua account. Vile Uhuru amesema atasema zaidi atakapo rudi,” Raila said on Wednesday.
“Mimi sina chochote huko nje, yangu iko Kenya”
Raila was weighing in on the recently leaked trove of documents dubbed the ‘Pandora papers’ that claimed President Kenyatta and six members of his family secretly owned a network of offshore companies.
One such company is a foundation called Varies that was established in 2003 with Mama Ngina Kenyatta and President Kenyatta as the first and second benefactors respectively.
Another, Millrun International Limited, was set up much earlier in 1999 by Mama Ngina and her daughters, Kristina and Anna, in the British Virgin Islands.
“According to the ICIJ, Mrs. Kenyatta and her daughters were advised by experienced international wealth experts from the Swiss bank Union Bancaire Privée (UBP), which recruited Alcogal, a Panamanian law firm specializing in setting up and administering offshore companies,” wrote the BBC.
“The consortium says invoices from Alcogal to the bank show that the Swiss advisers referred to the Kenyatta's with the code ‘client 13173.’”
UBP is also said to have in 2003 helped the president’s brother, Muhoho Kenyatta, set up a company in Panama called Criselle Foundation.
While responding to the leaked documents President Uhuru Kenyatta commended the ICJ consortium that was behind the investigation, saying it will improve financial transparency.
“…these reports will go a long way in enhancing the financial transparency and openness that we require in Kenya and around the globe. The movement of illicit funds, proceeds of crime, and corruption thrive in an environment of secrecy and darkness,” he stated.
“The Pandora Papers and subsequent follow-up audits will lift that veil of secrecy and darkness for those who cannot explain their assets or wealth.”
