×
× KTN KTN News KTN Morning Express KTN Leo Leo Mashinani The Big Story Checkpoint News Center E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
Login
×
Show Swahili

Sh 10 Billion Scandal rocks Youth Enterprise Development Fund

30th May, 2018

The Youth Enterprise Development Fund (YEDF) has sent on compulsory leave seven employees pending investigations on irregular loan disbursements. 

The seven, among them two senior managers, were suspended following an internal audit, which established that Sh10,765,000 may have been lost. 

The suspension came after YEDF CEO Josiah Moriasi ordered the internal audit department to conduct an assessment of its systems. 

This was done after a process of migrating the fund's data to a new system that includes beneficiary loan details revealed some discrepancies. 

In one instance, the audit revealed that one official was in charge of several transactions where three youth groups from Makadara, Kajiado North and Bomet East constituencies were receiving loans that had not been approved.

.
RELATED VIDEOS