National Treasury under the previous Jubilee regime signed documents to okay the transfer of more than Sh6.1 billion transaction to complete the buyback of Telkom without convening any physical or virtual meeting with officials from Helios Investment, former Cabinet Secretary, Ukur Yatani has disclosed.

According to the former CS instead, the two sides only communicated through letters signed by one Paul Cunningham as a director, raising questions whether the administration was knowingly dealing with faceless individuals.

Yatani while appearing before a joint parliamentary committee investigating the matter said he has never met any director from Jamhuri Holding Limited (JHL), a subsidiary of Helios investment. “I was directed to take appropriate action. I have never met Paul Cunningham and not aware of any single government official who have seen the director,” he told the joint parliamentary committee.

The committee is made up of Communication Information and Innovation (CII) led by John Kiarie and Treasury and National Planning committee chaired by Kuria Kimani. Authorising transfers of such huge amounts of money, just like cheques, loan repayment, and share transfer, always requires the involved parties to have physical meetings and sign the necessary documents.

The joint committee is banking on getting leads from the Treasury and Telkom board to unveil the true faces of the directors of JHL, which is critical in unearthing the beneficiaries of the controversial Sh6.1 billion payments.