Rédaction Africa Links 24 with Kenyans.co.ke
Published on 2024-03-26 14:41:56
The Teachers Service Commission (TSC) made an important announcement on Tuesday, March 26, regarding Sacco deductions for teachers in Bungoma County. During a meeting with the Senate Trade Committee, TSC Chief Executive Officer (CEO) Nancy Macharia revealed that the commission had halted the deductions for teachers in Bungoma County.
The Senate had summoned TSC officers to discuss a statement sought by Bungoma Senator David Wakoli regarding the deductions. Senator Wakoli had raised concerns about the deductions being directed to a Sacco that was accused of embezzling Ksh12 billion. CEO Macharia clarified to the Senate Trade Committee that TSC would only stop deductions upon application. She informed the committee that monthly deductions for 1,165 teachers from Bungoma County in favor of the Sacco had been stopped.
The issue was also brought up by Busia Senator Okiya Omtatah, who urged TSC to halt the deductions as teachers had withdrawn from the Sacco, which was facing a collapse. Omtatah emphasized that salaries and savings belonged to the teachers and needed to be protected. The Sacco had encountered problems three years ago when members discovered they were unable to withdraw their savings and were denied loan facilities despite having active accounts.
An audit conducted in April 2022 revealed that Ksh7 billion had been loaned out to ghost members, raising further concerns about the mismanagement of funds. There were also questions about large sums of money being withdrawn from a single teller at a Nakuru branch. These revelations raised serious doubts about the financial integrity of the Sacco and led to TSC taking action to stop the deductions for teachers in Bungoma County.
The situation highlighted the importance of safeguarding teachers’ finances and ensuring that their hard-earned money is not misused or mismanaged. TSC’s decision to halt the deductions was a step in the right direction to protect the interests of teachers and prevent further financial losses. It also underscored the need for transparency and accountability in financial transactions involving teachers’ funds.
Moving forward, it is essential for regulatory bodies like TSC to closely monitor Sacco operations and ensure that teachers’ contributions are being managed responsibly. The incident serves as a reminder of the importance of financial vigilance and oversight to prevent such cases of mismanagement and fraud in the future. By taking decisive action, TSC demonstrated its commitment to upholding the financial well-being of teachers and ensuring that their contributions are used for their intended purpose.
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