A Senate oversight panel has criticized the Nyeri administration for granting unsecured loans, accepting land of uncertain value as collateral, and releasing money without appropriate review by the loan board.
The Senate County Public Investment and Special Funds Committee raised concerns about Governor Mutahi Kahiga’s administration regarding Sh16.3 million in loans provided without valuation reports to verify the value of the land offered as security.
The auditor general, in her most recent report regarding the Nyeri County Enterprise Development Fund for the fiscal year ending June 30, 2024, highlighted that the lack of valuation documents poses a threat to loan recovery.
Provided by SyndiGate Media Inc. (Syndigate.info).
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