News
Uhuru’s Niece Run KICC Now Risks Auction Over Sh400M Debt
With less than three days to the end of the financial year, The Kenyatta International Convention Centre (KICC) now risks coughing up millions of shillings in court battles after it has failed to pay suppliers upto Ksh390 million.
President Kenyatta on June 1st directed all national government agencies and county governments to pay their pending bills by end of November.
Edward Ouko, the auditor-general has now warned that KICC is at risk of having its assets auctioned if the bills are not settled.
In a special audit report presented to the National Assembly, Mr Ouko notes that the claimants have valid contracts, LPOs, LSOs and award letters, and goods and services were delivered, with confirmation of works done.
“We recommend payment of various contractors, suppliers and service providers. The corporation risks its assets being attached in the event that the claims are not settled as most claimants have contracts,” Mr Ouko states.
The tenth World Trade Organization (WTO) ministerial conference suppliers, held in Nairobi from December 15-19, 2015, are yet to be paid Sh175.5 million while other contractors and suppliers are owed Sh211.4 million for laying of new cabro pavements and refurbishment works.
The pending bills had initially been established to be Sh1.1 billion but the special audit scaled it down to Sh387 million, which Mr Ouko recommended be paid to avoid subjecting KICC to court awards over delayed payments.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
-
News3 days agoKenyan Driver Hospitalized After Dubai Assault for Rejecting Gay Advances, Passport Seized as Authorities Remain Silent
-
Business1 week agoKakuzi Investors Face Massive Loss as Land Commission Drops Bombshell Order to Surrender Quarter of Productive Estate
-
Investigations1 week agoINSIDER LEAK REVEALS ROT AT KWS TOP EXECUTIVES
-
Business3 days agoConstruction Of Stalled Yaya Center Block Resumes After More Than 3 Decades and The Concrete Story Behind It
-
Investigations1 week agoCNN Reveals Massive Killings, Secret Graves In Tanzania and Coverup By the Govt
-
Business1 week agoBANKS BETRAYAL: How Equity Bank Allegedly Helped Thieves Loot Sh10 Million From Family’s Savings in Lightning Fast Court Scam
-
Investigations4 days agoHow Somali Money From Minnesota Fraud Ended In Funding Nairobi Real Estate Boom, Al Shabaab Attracting Trump’s Wrath
-
News1 week agoEXPOSED: How Tycoon Munga, State Officials, Chinese Firm Stalled A Sh3.9 Trillion Coal Treasure In Kitui
