EACC, Chase Bank differ on Youth Fund scam

EACC, Chase Bank differ on Youth Fund scam

The Ethics and Anti-Corruption Commission (EACC) is now embroiled in a war of words with Chase Bank over who should take responsibility for the alleged theft of 180 million shillings from Youth Enterprise Development Fund.

EACC has denied claims by Chase Bank General Manager Parmain Ole Narikae that the commission failed to stop the alleged fraud at the youth fund, through accounts it had with the bank.

In a statement to newsrooms, the anti graft body has denied Narikae’s claims that he had written to them over the dubious bank transactions by the Youth Fund.

EACC says the bank wrote to the Financial Reporting Center as required and that the then Planning PS Peter Mangiti wrote to CID and EACC on November 4th, 2015 drawing their attention to the matter.

The commission says it is investigating the matter and will forward its final report to Director of Public Prosecutions (DPP) Keriako Tobiko for action, this coming as former acting Youth Fund CEO Catherine Namuye appeared before Parliament’s Public Investments Committee (PIC) Thursday morning to respond over the scam.

Namuye says the procurement for the ICT system was done in line with the regulations and board meetings held on the August 6th, 2015 where the annual budget for 2014/15 was deliberated in the meeting and developed to annual procurement plan at a cost of Ksh 192 million.

According to Namuye, the payment instructions were issued according to the board instructions.

She, however, wants the intervention of the PIC committee to get access to the original minutes of the said meeting as she was denied the documents she requested.

The Youth Fund has been embroiled in a Ksh 180 million scandal in recent weeks, with Kenyans and Parliamentarians seeking answers over the recent scam to rock the country.

The Youth Fund officials and a private firm awarded a Ksh 180 million tender falsified documents to facilitate the irregular payment of millions of shillings to the company.

This comes just days after it emerged that the Youth Enterprise Development Fund did not seek approval from the Treasury before opening a fixed deposit account at Chase Bank as required by the law.

Appearing before the Public Investment Committee (PIC) two days ago, acting Inspector General at the State Corporation Inspectorate, Titus Muriithi, said it took them time to investigate and bring to light the 180 million shillings scam at the Youth Fund as they are incapacitated.


kenya EACC chase bank Youth Enterprise Development Fund Catherine Namuye former Youth Fund CEO Catherine Namuye Youth Fund scandal PIC Public Investment Committee

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