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Approval for opening bank account

Section 10 (1) of the PFM (COVID-19 Emergency Response Fund) Regulations, 2020 requires the Fund Administrator to open Bank Accounts with the approval of the Board as may be approved by The National Treasury. The audit established that, the Fund opened a Bank Account with Absa Bank Kenya PLC, the account name being Kenya COVID-19 Fund, Account Number 2042554653 at Absa Towers Branch. Though the decision to open the Bank Account was approved by the Fund Board, there was no evidence of approval by the Cabinet Secretary to The National Treasury