The government has hired a private firm to audit the accounts of Moi University Savings and Credit Society (MUSCO), which is currently under liquidation.
Appearing before the Senate during Question Time, Cabinet Secretary for Cooperatives and MSMEs Wycliffe Oparanya addressed concerns raised by Uasin Gishu Senator Prof. Margaret Kamar, who called for transparency in the process.
“MUSCO members deserve clarity and protection of their savings during this process,” Senator Kamar said.
CS Oparanya confirmed that audits for MUSCO’s financial records up to 2021 have already been contracted out, and plans are in place to audit the remaining years. “We’re committed to completing the audits and ensuring full accountability,” he said.
He added that a liquidation committee is already in place and consultations have been held with the Uasin Gishu County Government and other stakeholders through the Intergovernmental Relations Technical Committee.
The CS also clarified that MUSCO’s back-office certification cannot be reinstated. “The law does not allow re-registration of a deregistered cooperative, and no appeal was filed within the required 30 days of cancellation,” he said.
Oparanya told the Senate that a taskforce report on the issue was submitted in January and the Ministry is currently developing a Concept Note to guide the next steps, incorporating the Senate’s recommendations.
He assured that the Ministry is committed to upholding transparency, legal compliance, and safeguarding the interests of MUSCO members during the entire process.