Workers could lose Sh215m thanks to stalled NSSF project

Auditor-General, Mr Edward Ouko. Mr Ouko says in a report that work on the National Social Security Fund’s (NSSF) Nyayo Embakasi Phase Six housing project has ground to a halt due to lack of approvals by the county government. PHOTO | FILE

By  DN2 CORRESPONDENT

What you need to know:

  • The NSSF had already released partial payment to the Chinese contractor, China Jiangxi.

Workers risk losing more than Sh215 million of their retirement savings in a stalled housing scheme in Nairobi, the Auditor-General, Mr Edward Ouko,  has warned.

Mr Ouko says in a report that work on the National Social Security Fund’s (NSSF) Nyayo Embakasi Phase Six housing project has ground to a halt due to lack of approvals by the county government.

The NSSF had already released partial payment to the Chinese contractor, China Jiangxi.

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Mr Ouko said the NSSF is at risk of losing the money already paid, with additional losses on delayed completion of the project.

The information is contained in a qualified opinion on NSSF’s latest books of accounts to June 2015. A qualified opinion means there are gaps in book-keeping, hence not providing a true picture of the situation.

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