Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Simon Chelugui has announced the dismissal of the Kenya Union of Savings and Credit Union (KUSCCO) Board of Directors over cases of maladministration.<\/p>\n
The CS further directed the Commissioner for Cooperative Development to appoint an interim board to run the affairs of the SACCOs union.<\/p>\n
\u201cIn response to these findings, immediate administrative measures were taken, including the dismissal of implicated top managers and administrators, to facilitate a comprehensive audit of the union\u2019s operations and financial records,\u201d said Chelugui at a press briefing<\/p>\n
According to the minister, a probe recently conducted on the SACCOs umbrella body revealed significant discrepancies in the management and operations.<\/p>\n
\u201cPreliminary findings indicate systemic deficiencies in the management of resources, including\u2026high cash withdrawals out of character with expected operations \u2013 Kshs 5,466,016,687 between February 2013 and April 2024,\u201d he said<\/p>\n
The Cooperatives CS has since appointed audit firm Grant Thornton to conduct a thorough examination of the union\u2019s financial affairs.<\/p>\n
The post Chelugui kicks out KUSCCO management over questionable financial dealings<\/a> first appeared on KBC<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Simon Chelugui has announced the dismissal of the Kenya Union of Savings and Credit Union (KUSCCO) Board of Directors over cases of maladministration. The CS further directed the Commissioner for Cooperative Development to appoint an interim board to run the affairs of the SACCOs […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-36314","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/36314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=36314"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/36314\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=36314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=36314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=36314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}