Top NSSF officials have case to answer over loss of sh1.2 billion

NSSF house in Nairobi./COURTESY

Nairobi, KENYA: Three top NSSF officials have been found with a case to answer over the loss of sh.1.2 billion pension funds.

The three are James Akoya, former Managing Trustee; Francis Zuriels Moturi, former Investment Manager and Mary Ndirangu, Internal Audit Manager.

The court also found David Githaiga, Managing Director; Wilfred Weru, Finance Director and Isaac Nyamongo, Investment Manager from Discount Securities with a case to answer.

The funds, belonging to NSSF were allegedly lost in irregular trading shares through discount securities in the year 2004-2007.

Charges in the case include; Fraudulent disposal of public property, fraudulently making payment from public revenue, willful failure to comply with the applicable procedures and guidelines relating to procurement of property, fraudulent acquisition of public property, conspiracy to defraud, deceiving principal, stealing by agent and neglect of official duty by a public officer contrary to the law.

Defense hearing set to commence on 27th May, 2019.