The Senate Committee on Labour and Social Welfare has launched an investigation into the collapse of the Technical University of Kenya Staff Retirement Benefits Scheme (TUK SRBS) following a petition by affected workers.
The petition alleges financial mismanagement spanning over a decade, resulting in losses amounting to Ksh5.3 billion.
Following the allegations, the Senate committee commenced an inquiry after officials from TUK appeared before it to address the concerns raised by staff members.
While testifying before the committee, University Academic Staff Union (UASU) TUK Chapter Secretary Fred Sawenja outlined a troubling sequence of events dating back to July 2009, shedding light on the mismanagement that led to the scheme's downfall.
Even more concerning, the deductions continued beyond September 2017, despite RBA seeking a court order to wind up the scheme. Shockingly, they persisted for two months after the High Court officially ordered its liquidation in July 2024.
Sawenja identified key officials of the institution including the former Vice-Chancellor, University Bursar and Finance Officer, and Council Legal Officer as key figures in the fiasco.
The institution was further accused of enabling the mismanagement, as a former trustee and academic staff representative highlighted a conflict of interest within the board.
He explained that while three trustees were elected by staff, the university council appointed three others and irregularly co-opted four more, effectively shifting control away from employees.
The Senate will now invite more people to appear before it to shed more light on the circumstances surrounding the misappropriation of the funds.
