A National Assembly committee has recommended that former officials of the Youth Enterprise Development Fund (YEDF) be prosecuted for defrauding it of Sh180.3 million. The Public Investment Committee (PIC) wants Former YEDF chairman Bruce Odhiambo and suspended acting chief executive Catherine Namuye investigated and charged for orchestrating a non-existent consultancy service scheme that led to the loss of the funds.
The committee also wants Mukuria Ngamau, the director and shareholder of Quorandum Limited that was paid the Sh180 million for consultancy services contract for the development of an information, Communication and Technology (ICT) strategic plan, prosecuted.
“The Committee concluded that YEDF lost a total of Sh180,364,789 through a well orchestrated and dubious non-existent consultancy service scheme that was crafted and jointly executed by Bruce Odhiambo, Catherine Namuye and Mukuria Ngamau,” the report of the Committee led by Adan Keynan read in part.
In the report which is awaiting consideration by the National Assembly, the name of former Devolution Cabinet secretary Anne Waiguru came up in connection to the loss of another Sh44.7 million that had been earmarked for YEDF anniversary celebrations that were later cancelled.
The committee also wants Central Bank to investigate Chase Bank for possible violations of the Banking Act for failing to conduct due diligence in acting on Namuye’s instructions to transfer the funds from YEDF to Qourandam Limited after Odhiambo and Namuye sent to Chase Bank a letter confirming a change of signatories of the Youth Fund account.
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