Matiang’i Goes After Ekeza Sacco Over Ksh1.5 Billion Fraud

  • Interior Cabinet secretary Fred Matiang’i has revealed that the state is pursuing fraudulent Ekeza Sacco officials who misappropriated more than Ksh1.5 billion belonging to investors.

    “We are going to do everything it takes to punish and bring to book those misusing resources. We are hot on the trail of officials of Ekeza and others,” Matiangi mentioned.

    The CS was speaking on Wednesday during the Kenya Police Sacco Annual Delegates Conference in Nairobi.

    “We have agreed with Inspector General of Police to go after them and take them before the law,” he added.

    He stated that the government will not sit and watch as individuals embezzle hard-earned income invested in saccos by members.

    Matiang’i also mentioned that the state will support cooperative societies by punishing those found misusing resources.

    Ekeza came to the limelight after sacco members alleged their savings had been irregularly transferred to founder David Kariuki Ngare’s private accounts.

    In January, Bishop Ngare, commonly known as Gakuyo, started the process of disposing of properties in an effort to raise money required to repay members.

    Last month, Industry, Trade and Co-operatives CS Peter Munya disclosed that the government is set to unveil a new police unit to deal with increasing cases of fraud linked to senior officials at the heart of the helm of Savings and credit cooperatives (SACCO).

    The outfit expected to reign in rogue sacco officials who mismanage members’ assets and will involve collaboration between the Saccos Regulatory Authority (Sasra), the Directorate of Criminal Investigations (DCI) and the Ethics and Anti-Corruption Commission (EACC).