Companies
National Oil suspends staff over Sh100 million ‘lost’ fuel
Sunday February 17 2019The National Oil Corporation of Kenya (Nock) has suspended seven employees over lost Sh100 million fuel, according to preliminary findings.
The seven who are charged with stock taking were interdicted following a forensic audit on the loss that occurred between 2016 and 2018.
Nock chief executive MaryJane Mwangi said the company had invited the Directorate of Criminal Investigation (DCI) to take over the investigations.
“The DCI was actually at our offices on Thursday investigating the matter. They are supposed to be interviewing those people who had to step aside because … we don’t want to run the risk of documents getting lost,” she told the National Assembly Energy Committee on Thursday.
Those interdicted include the finance manager, management accountant, stock accountant, depot controller, distribution manager, territory manager and commercial manager.
Ms Mwangi said findings by auditors (KPMG) indicated that 900,000 litres were lost.
“Some of the key people who were involved in that loss when they realised what they had done they resigned,” she said.
She added that Nock was waiting for the final audit report to quantify exactly how much product was lost and its value.
This is the second case the DCI is investigating at Nock in a span of six months.
It is also looking into fraudulent contractors that supplied 67,251 faulty gas cylinders under the Mwananchi gas project.
In the Headlines
Tullow Oil writes off Sh2.4 billion in Kenya project assets
By CHARLES MWANIKI31minutes ago.
Banks face steep fines in terror financing war
By DOMINIC OMONDI31minutes ago.
EACC’s amnesty offer to fake paper holders
By TITUS OMINDE31minutes ago.
MPs want foreigners to get permits before investing
By PETER MBURU46minutes ago.