How the REREC board got involved in a financial cover-up

Sources said that REREC bosses have vested interests in some of the companies that are contracted to execute multi-billion shillings contracts in its development programmes, a matter that drawn the attention of the Auditor General’s office and the Parliamentary Investments Committee (PIC) to query

By The Weekly Vision Special Correspondent

Fresh details have emerged of how top bosses at the Rural Electrification and Renewable Energy (REREC), a government agency that controls billions of shillings not only from the treasury but also international development partners and financiers has been on a corruption cover-up spree.

Sources said that REREC bosses have vested interests in some of the companies that are contracted to execute multi-billion shillings contracts in its development programmes, a matter that drawn the attention of the Auditor General’s office and the Parliamentary Investments Committee (PIC) to query.

According to our independent investigations, out of the blues, from virtually incapacitated characters, some of the men and women who run REREC have suddenly become millionaires and billionaires with high priced properties, holding multi-million or billions of shillings bank accounts in Kenya and abroad. 

It is indeed emerging that the Chief Dons sit on the board of REREC, other operatives of the scheme are the Chief Executive Officer or Managing Director Peter Mbugua and Davies Cheruiyot, the finance boss

Sources within REREC said that nothing negative involving these multi-billion shillings scandals are ever exposed to the public eye who may need to see and know the truth about the top-level corruption rot in which the country’s taxpayers and international development partners are losing billions of shillings – the money is meant for the development of rural electrification programs throughout the country.

It is indeed emerging that the Chief Dons sit on the board of REREC, other operatives of the scheme are the Chief Executive Officer or Managing Director Peter Mbugua and Davies Cheruiyot, the finance boss who is alleged to be facing critical queries unrelated to his work at REREC at the Capital Police Station in Upper Hill/Community Nairobi. All these matters are intrinsically based on REREC’s tendering and procurement procedures, the bosses’ vested interests to make money quick money and greed for public cash.

REREC Board Chairman Simon Gicharu with his CEO Peter Mbugua

The Auditor General estimates that REREC has lost more than Kshs. 8.8 billion, having failed to account for it in the fraudulent operations at the very high level and continues to lose more daily as the multi-billion shillings Rural Electrification Projects with the president’s aspirations and commitments and the fight against corruption collapses in his face.

The chairman and his team were recently summoned to appear before the Parliamentary Investment Committee (PIC) to answer pertinent critical issues or critical queries based on the General auditor’s financial findings of REREC over the just concluded financial year. The most critical issue here is the fact Guacharo, Mutual, and Chariot failed to account for more than Ksh. 8.7 billion missing from the state corporation’s billions exposed by an extremely limited report from REREC that is said to lies, subterfuge, masquerade manipulations by its principals led Prof. Guacharo and CEO Mutual crowned by Cheruiyot the money man.

At stake are more than Kshs. 8.9 billion has not been accounted for by REREC for that now the PIC is demanding to know where the money is.Emerging details show that after the first appearance before the PIC, the REREC team was ordered by the legislator to go back and account for the glaring discrepancies revealed in the report concerning billions of shillings and specific time frames that were not accounted for, the team failed to fill the gaps as ordered by PIC hence they are expected to appear before it again to answer pertinent queries.  

Why did they authorize multi-billion shillings payouts on electricity poles they had condemned as sub-substandard? Who are the real owners behind companies doing contractual or tendering businesses with REREC and how much are they pocketing annually? Why have they failed to actualize their audit reports to be summoned by the PIC and also fail to convince it on matters involving billions of shillings meant for government projects?

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