Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 507848,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/507848/?format=api",
    "text_counter": 307,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Temporary Deputy Speaker, the value of the Kibarage Way House in Loresho must be in tens of millions of shillings. The same can be said for the properties in Muthaiga, Park Road and Mombasa Road in Nairobi, and the Nyali Manager’s House in Mombasa. All those are prime properties. Nobody has explained how they ended up in private ownership. Therefore, KNAC remains in Intensive Care Unit (ICU). Nobody wants to explain anything. It is still under receivership. The purpose of those recommendations is to ask the Ethics and Anti- Corruption Commission, the Insurance Regulatory Authority (IRA) and Nairobi Stock Exchange to find out what happened to this organisation with a view to ensuring that taxpayers get back their investments. Hon. Temporary Deputy Speaker, the other bit, which was a common feature in all those State corporations, was poor investment decisions. This was common in some of the liquid State institutions like National Social Security Fund (NSSF). In this particular case, NSSF invested huge amounts of taxpayers’ money in Discount Securities without any due regard to the law. Eventually, that money was lost. The issue is in court. Nobody can explain how the taxpayers can just easily lose over Kshs1.2 billion to a company with dubious background, whose directors are not serious people. This issue still remains in court. Nobody wants to explain why it has taken over four to five years to be concluded. Therefore, it is an issue that the Committee has suggested that the Ethics and Anti- Corruption Commission, notwithstanding the active civil case, should invoke the Economic Crimes Act, to enjoin itself in this particular case and ensure that they represent public interest. Otherwise, this case will never build up because somebody The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}