By Wasike Elvis and Rosemil Oduor
Uasin Gishu County Executive Committee Member in charge of Cooperatives and Enterprise Development, Esther Mutai, has urged the government to consider revoking the cancellation of Moi University Sacco.
She noted it was wrong for the State Department of Cooperatives to revoke the license without following the due procedure.
She said that a commission of inquiry was not formed before the action was taken.
“We are urging the Cabinet Secretary in charge of Co-operatives Peter Munya, who has powers to revoke the cancellation to do so,” she said.
Mutai wondered why the commissioner rushed to place the society in the hands of a liquidator ignoring the calls by the County Government of Uasin Gishu requesting her to compel the employer – Moi University – to remit the society’s due amounting to Sh 51 million.
The Commissioner of Cooperatives had in June 2018 revoked registration of the Moi University Savings and Credit Society and placed it under liquidation.
Meanwhile, Moi University Sacco members staged demonstration in Eldoret town to oppose the planned sale of MUSCO towers owned by the Sacco.
The members claimed that they were not involved in the sale of the property.
Jack Willis Abok, a member and Uasu – Moi University Secretary General said they would not allow anyone to cheaply sell the building adding they needed investigations into possible loss of funds belonging to the Sacco.
Wilson Koech, a member, said they do not know why their license as a Sacco was revoked.
Stanley Kirop, the MUSCO chairperson, asked Trade CS Peter Munya to intervene and assist them get their dues since some of their members who had retired were languishing in poverty as they haven’t received their dues from the Sacco.
The Sacco was among the deposit-taking sacks closed down after after failing to comply with capital adequacy and corporate governance rules.
The Sacco has assets worth Sh4 billion and membership of 3, 000 drawn from Moi University, University of Eldoret and Moi Teaching and Referral Hospital.