The Ethics and Anti-Corruption Commission (EACC) has arrested nine suspects over the alleged embezzlement and fraudulent disbursement of KSh1.57 billion under the Rural Outreach of Financial Innovations and Technologies (PROFIT) Programme.

The programme was implemented by the National Treasury with funding from the International Fund for Agricultural Development (IFAD) between the 2013/2014 and 2023/2024 financial years.

According to the EACC, investigations established that KSh1.569 billion was fraudulently disbursed from the National Treasury Development Account and subsequently channelled to 23 private entities, including 15 business names and eight companies, for goods and services that were allegedly never supplied or rendered.

The Commission further said programme officials allegedly used false and forged documents to account for the funds and opened an unauthorised KCB Bank account in the name of the PROFIT Programme.

Through the account, KSh175 million was allegedly received, laundered and embezzled, with a substantial amount withdrawn in cash.

The EACC also established alleged financial links between programme officials and some of the private entities that received the funds, in what it said appeared to contravene public financial management and accountability requirements.

Following the investigations, the Commission forwarded the inquiry file to the Director of Public Prosecutions (DPP), who approved the prosecution of 20 public officials, companies and company directors.

Those arrested include PROFIT Programme Coordinator John Ngure Kabutha, National Treasury Head of Accounting Unit Namwel Moturi Motanya, Senior Accountant John Maina Muriithi and several business owners and company directors.

The suspects face charges including unlawful acquisition of public property, abuse of office, money laundering, acquisition of proceeds of crime and uttering false documents.

The nine suspects are expected to be arraigned before the Milimani Law Courts on Wednesday, August 19, 2026.

The EACC has also directed 11 other suspects to present themselves at the EACC Integrity Centre in Nairobi or the nearest EACC office for processing.

The Commission said it will pursue the recovery and forfeiture of public funds and assets established to have been acquired through corrupt conduct or other unlawful means.