Laikipia risks losing assets worth Sh3.1b
By Hillary Mageka, October 7, 2020
Hillary Mageka @hillarymageka
Some Sh3.1 billion assets belonging to the defunct Laikipia County Council are at risk of being stolen after the devolved unit failed to secure ownership documents.
The revelation was made yesterday during a Senate Public Accounts and Investments Committee that grilled Governor Ndiritu Muriithi over the under-absorption of development budget thus denying the residents the much-needed development.
County chief was also put to task over his administration’s failure to meet own source revenue target and some questionable projects flagged by former Auditor General Edward Ouko.
Muriithi appeared, alongside his top Finance officers, before the oversight committee to respond to audit queries.
According to the 2017-18-audit report, Laikipia Executive has not put in place any measures to secure and safeguard its assets thereby exposing them to grabbers.
“The county executive during the year under review had not put in place adequate controls to safeguard the assets including movement registers, accurate and verifiable registers and regular reconciliation and the physical assets and the records,” reads the report in part.