The Chairman of the youth fund Ronald Osumba has suspended seven senior staff members. The seniors staff affected by the the suspension include the lending and investment manager and the the senior accountant.
The chairman said that the two were linked to irregular disbursements after an audit report established this on March 2. He noted that the fraud was noted by the transfer of client information to the new system.
Ronald Osumba indicated that they would also be significant structural changes within the organisation.
We have also undertaken wide-ranging staff changes across the entire organisation particularly the finance and credit departments and invited the National Treasury to carry out a special and independent audit to determine the extent of the problem,” Osumba said.
The chairman said that the board resolved to suspend the seven officials n order to safeguard the use of public resources and abundance of caution.
This suspension comes after the government decision to consolidate the fundamentals. Ronald Osumba said that they were set to receive Sh.1 Billion a raise from the Sh.320 million the parastatal received last year.
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