NSSF Publishes Audited Financial Reports on Website After Bloomberg Reporter Complains

NSSF building
An image of the NSSF Building. PHOTO/ Courtesy.

The National Social Security Fund (NSSF) has finally posted audited financial records on its website for the first time in three fiscal years after caving in to the Ombudsman's pressure.

This comes after the Commission on Administrative Justice, also known as the Ombudsman, intervened and examined the NSSF website, discovering that the only audited financial reports there were those from the 2013 fiscal year to the 2020–21 fiscal year.

A Bloomberg correspondent and NSSF member named David Herbling had told the Ombudsman about the disparity, stating that his March 7 complaints to NSSF CEO David Koros had not received a response.

As a result, he turned to the Ombudsman for assistance, requesting a review application on the grounds that NSSF had failed to proactively post the most recent audited financial statements online.

NSSF Managing Trustee David Koros
NSSF CEO David Koros speaking during a breakfast meeting held at the Sarova Panafric Hotel on August 15, 2023.
Photo
NSSF

A subsequent review by the commission confirmed this assertion, after which it cited the constitutional rights of Kenyans to access such information in its letter to NSSF.

It also referenced Article 35(3), which requires the State to publish and publicise important information affecting the nation and Section 5 of the Access to Information Act, 2016, which mandates all public entities to proactively disclose and regularly update important information affecting the nation.

Therefore, the commission relayed that publishing the information would allow citizens to access information, scrutinise the actions and decisions of duty bearers, and conduct social audits, further promoting the principles of good governance.

As such, the commission issued a 21-day ultimatum to the fund, seeking the publishing of the documents, a directive it ultimately adhered to.

In his response, the fund's CEO acknowledged the lack of reports on the website but assured the commission that the matter needed to be addressed during the April 25 Annual General Meeting before the publication would be made.

"The Fund has been publishing financial statements on the website since 2013, as confirmed in your letter, except for three years," part of the CEO's response read.

"Website publication requires approval through the Annual General Meeting, which was due on 25th April, 2025. We wish to confirm that the information was uploaded soon after the meeting, and we endeavour to hold the AGM regularly to avoid such delays."

Following this response, the commission conducted a follow-up audit of the NSSF website and confirmed that the information had been duly published.

Collage image of the NSSF building located in Upperhill Nairobi
Collage image of the NSSF building located in Upperhill, Nairobi
Photo
NSSF