Adan Keynan

All parliamentary appearances

Entries 751 to 760 of 2556.

• 17 Aug 2016 in National Assembly: On the background of the Youth Enterprise Development Fund (YEDF) and the inquiry into allegations of fraud and financial mismanagement, I would like to highlight the main components of the YEDF. The YEDF is a State corporation established through Legal Notice No.63 of 2007 as revised in 2012 by the Government of Kenya as an initiative to address the high unemployment rate among Kenyan youths. If you look at our population growth rate and our demography, you will realise that the youth occupy a critical--- The youth of the Republic of Kenya are not properly provided for with facilities or ... view
• 17 Aug 2016 in National Assembly: 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. view
• 17 Aug 2016 in National Assembly: During this exercise, the Committee observed with concern that the Auditor-General has raised several audit queries relating to financial mismanagement and misappropriation of funds at the Fund. Hardly three months later, the Committee received information on financial mismanagement of approximately Kshs180 million from Call Deposit Account that the Fund held with Chase Bank. Pursuant to Standing Order 206(c), the Committee commenced its inquiry into the allegations of fraud and financial mismanagement of approximately Kshs180 million at the YEDF. The Committee concluded inquiry between December, 2015 and April, 2016 after which it tabled the Report on 4th May, 2016. The Committee ... view
• 17 Aug 2016 in National Assembly: 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. view
• 17 Aug 2016 in National Assembly: We were told that the bank did not honour the first instruction since they contradicted the earlier instructions submitted to the bank by the Fund. Initially, the Board authorised Ms. Namuye and Judy Kimetto as signatories but because of that letter from the Chair, everything changed. When that happened, the Acting CEO immediately followed and wrote another letter to the bank and this is what she said:- “Following the maturity of fixed deposit held with your bank, please take this as instructions to debit our account Kshs115,710,000 and make payments to our supplier Quorandum Limited for consultancy services rendered.” Look ... view
• 17 Aug 2016 in National Assembly: Hon. Temporary Deputy Speaker, on 11th February, 2015 and on 27th February, 2015, Ms. Catherine Namuye, the suspended CEO without the Board’s approval and without the involvement of the YEDF Finance Department instructed Chase Bank to pay Quorandum Limited. the entire amount. Shockingly, when we interacted with the Finance Manager and the Acting Finance Manager they were not in the picture at all on how this money was used. As a result of the actions of the suspended CEO, Ms. Catherine Namuye and Bruce Odhiambo, the Fund lost a whopping Kshs180,364,789 through this well-orchestrated and dubious non-existent consultancy service. view
• 17 Aug 2016 in National Assembly: 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. view
• 17 Aug 2016 in National Assembly: You can imagine that the YEDF is a critical institution. First of all, how did they end up getting surplus funds to deposit in that bank? What was even more shocking is that the National Treasury has over the years issued prudential guidelines to all Government-owned agencies to invest any surplus money in Government-owned banks. This particular transaction was contrary to the National Treasury Circular that required any Government investment or institution to seek the approval or guidance of the National Treasury on matters of how they will invest surplus money. This was done behind the back of the National ... view
• 17 Aug 2016 in National Assembly: The suspended Acting CEO, Ms. Catherine Namuye occasioned the withdrawal of funds from the Fixed Deposit Account at Chase Bank to pay for goods and services while the Fund had an Operations Accounts held at Equity Bank and Kenya Commercial Bank. This is a sad state. Immediately we got involvement in this matter, we were told on the face that this issue was being investigated by the Directorate of Criminal Investigation (DCI) and the Ethics and Anti- Corruption Commission (EACC). Later on, it is we, as the PIC who led the process. We were even telling them where the funds ... view
• 17 Aug 2016 in National Assembly: The alleged award of contract on ICT strategy and ERB system service to Quorandum Limited. by the YEDF did not comply with the provisions of Article 227 of Constitution. There was no tender at all. The whole thing started on a cup of tea between the then Acting CEO and the alleged owner of Quorandum Limited. Eventually, what was supposed to be a friendly business contact ended up being a fraudulent transaction that will be difficult to recover even if some of these individuals ended up in court or the Government decided to use other mechanisms in recovering these huge ... view