A parliamentary committee has raised the alarm over the management of the Cooperative Societies Liquidation Fund, questioning how billions of shillings may have been handled for years without a clear governance structure.
This follows revelations that thousands of civil servants, who retired after decades of saving through SACCOs, have been left empty-handed to date.
During a session held at Parliament Buildings on Tuesday, the Special Funds Accounts Committee summoned officials from the State Department for Co-operatives and directed them to submit all pending audit documents to the Auditor-General within 14 days.
The session, chaired by Fatuma Zainab (Migori Woman Representative), revealed that the Liquidation Fund, which is responsible for winding up failed SACCOs, has been operating without a Chief Executive Officer or a Board.
