What You Should Know About This NSSF Scandal

Details emerged of the investment blunders by the management of the National Social Security Fund that effectively sank millions of pensioners’ money. A new audit report shows the fund has lost nearly Sh1 billion arising from its investment moves. Most of the cash was pumped into the stock market and in botched housing projects.

Auditor General Nancy Gathungu has now put NSSF managers under the spotlight for continuing to hold investments in cash-strapped companies.

NSSF is a government agency with the mandate to collect, safe-keep and responsibly invest employees’ contributions that would be distributed at retirement.

starinfographics

Related Posts

Here Is the Soft Life Of Maina Kageni

At just 18 years old, fresh from high school in 1993, Maina Kageni was already making KSh 43,000 monthly. That was at a time when the president earned about 100k.…

Read more

Duterte Wins Davao City Mayoral Race From Detention in The Hague

DAVAO CITY, Philippines – In an extraordinary turn of events, former Philippine President Rodrigo Duterte has been elected mayor of his longtime stronghold, Davao City, despite being detained at the…

Read more

You Missed

Here Is the Soft Life Of Maina Kageni

Here Is the Soft Life Of Maina Kageni

Football Titbits across the papers

Football Titbits across the papers

Duterte Wins Davao City Mayoral Race From Detention in The Hague

Duterte Wins Davao City Mayoral Race From Detention in The Hague

“IBRAHIM TRAORÉ is popular but he is a bad man, he doesn’t like criticism” ~ Gambia born, UK based journalist laments

“IBRAHIM TRAORÉ is popular but he is a bad man, he doesn’t like criticism” ~ Gambia born, UK based journalist laments