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Millions embezzled in universities. Among them, Multimedia University

Millions embezzled in universities. Among them, Multimedia University

New report by Auditor General Edward Ouko has revealed that seven universities have misappropriated millions of funds.

The universities include Multimedia University, Moi University, Kenyatta University, Maseno University, Kabianga University, University of Eldoret and Cooperative University of Kenya.

Frameworks for recovering Ksh518 million accrued in establishing Arusha and Kigali campuses were not set by Kenyatta University, AG Ouko has said.

The institution recorded a deficit of Ksh43.4 million, with current liabilities of Sh3.2 billion and current assets of Ksh1.6 billion. It also failed to remit pension and taxes worth Ksh808 million and other deductions of Ksh161 million to beneficiaries.

Maseno University has breached a number of Public Procurement and Disposal Regulations(PPDR). The university spent Ksh11,768,240 to buy a 67-seater bus through restricted tendering where only six suppliers were invited to apply. According to PPDR, a minimum of 10 is required.

The report also indicates an ambulance priced at Ksh6,235,279 was bought without competitive tendering.

Multimedia University, a self-proclaimed giant in innovative technology, was not left behind in the embezzlement of funds. Unverifiable transactions indicates millions of shillings were looted. The report indicates that the institution accrued unapproved expenditure equating to Ksh11,822,952.

The institution also bought computers which were authorized at Ksh13,000,000. However, the university proceeded to acquire them at Ksh24,822,952.

Another university in the list is University of Eldoret which lost Ksh10,661,304 after 156 students graduated without finishing fee arrears.
Additionally, the university was unable to support Ksh6,816,905 it claimed to have issued to research students as imprest two years ago.

Current liabilities of Sh231,157,032 exceeded current assets of Sh163,387,717 at Cooperative University of Kenya. This means it has a negative working capital of Sh67,769,315.

“In particular, the university was unable to pay trade payables and payroll liabilities of Sh65,724,699 and Sh55,348,680, respectively, to the beneficiaries, thereby risking fines and penalties,” AG Ouko has said.

Moi University failed to account for Ksh25,476,385 said to have been advanced to its officers as imprest. The institution was unable to support why it has not recovered unsurrendered imprests which were to be surrendered by June 2017.

Mr. Ouko’s reports was tabled by Garissa Town MP Aden Duale last week.
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Millions embezzled in universities. Among them, Multimedia University