Former TNA Secretary General Onyango Oloo in Sh4 Billion Scandal

The former TNA Secretary General Onyango Oloo is on the spot following a multi-billion deal he allegedly signed illegally.

While serving as a non-executive chairman of the board of the Lake Basin Development Authority (LBDA) mall, Mr Oloo is said to have appended his signature to a contract which allowed a contractor to secure a loan from a bank for the construction of the shopping centre using the mall's title deed.

According to documents presented to the National Assembly Public Investments Committee (PIC), Oloo's deal with the contractor was inflated by a whopping Sh1.41 billion.

The original bid price was Sh2.45 billion but Oloo's contract with the company identified as Erdemann was quoted at Sh3.86 billion.

On Thursday, PIC chairman Adan Keynan noted that Oloo ought to be punished over the deal that will now cost taxpayers Sh4.2 billion following accumulation of the loan's interest rate.

"It is inconceivable that a non-executive chairman was allowed to execute a contract for the construction of the mall. It looks like he was one of the politically correct super chairmen who wielded immense power, which they didn't have legally," Mr Keynan stated.

The mall risks being auctioned to recover the loan, which has grown to Sh4 billion and continually is growing at the rate of Sh43 million a month.

Kisumu West MP Olago Aluoch mentioned that: "The idea is good, the investment is good and, as MPs from the area, we don’t want it to go into private hands. But whoever went into such a lopsided deal should be held to account."

Oloo left Jubilee in January and since his exit, he has been making revelation after revelation on the political intrigues that transpired when he was at the helm of TNA.

Read Also: 10 Things Onyango Oloo Has Exposed Since He Left Uhuru’s Jubilee Party

 

 

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