Parliament Launches Probe into KUCCPS’ Car Loan and Mortgage Scheme

The National Assembly’s Special Funds Account Committee has initiated an investigation into the activities of the Kenya Universities and Colleges Central Placement Service (KUCCPS), specifically focusing on its car loan and mortgage scheme. Here are the key details from the parliamentary inquiry:

Investigation Initiation:

  • Led by Fatuma Zainab, the Special Funds Account Committee convened a crucial meeting with KUCCPS management to address audit queries regarding discrepancies in the financial statements of the car loan and mortgage schemes.

Management Engagement:

  • KUCCPS management, headed by Dr. Agnes Wahome, participated in discussions regarding the identified discrepancies in the financial statements, including issues such as delayed submission of reports to the Auditor-General, violating statutory requirements.

Concerns Raised:

  • One of the primary concerns highlighted during the meeting was the failure of KUCCPS to submit financial statements within the mandated three-month window, as stipulated by the Public Audit Act of 2015.
  • The committee sought clarification from the CEO regarding reported discrepancies between the number of bank accounts associated with the scheme. While KUCCPS’s financial records indicate two accounts, the bank reports four active accounts, raising questions about the legitimacy of the additional accounts.

Scrutiny and Accountability:

  • Parliament emphasized its commitment to safeguarding public funds and ensuring accountability in the management of government agencies.
  • The committee’s inquiry aims to thoroughly investigate the discrepancies and irregularities surrounding the car loan and mortgage scheme operated by KUCCPS.

Next Steps:

  • A comprehensive report detailing the findings and recommendations resulting from the parliamentary inquiry will be presented to the House.

The parliamentary probe into KUCCPS’ car loan and mortgage scheme underscores the government’s dedication to transparency and accountability in the management of public funds. As the investigation progresses, clarity and accountability are expected to be established regarding the reported discrepancies and irregularities.

LEAVE A REPLY

Please enter your comment!
Please enter your name here