HomeBusinessExecutive of power company suspended after Sh0.5bn survey fraud;

Executive of power company suspended after Sh0.5bn survey fraud;

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A number of high-ranking officials of the state-run Rural Electrification and Energy Corporation (REREC), including CEO Peter Mbugua, have been suspended due to the alleged fabrication of survey data at a cost of more than 500 million Kenyan Shillings.

An internal audit showed that at least Sh430,000,000 was spent on universal land services, Theodore studies, GIS engineers, and business consultants.

The audit found some questionable billing and couldn’t confirm whether or not the surveys were actually done. This led to the accounting and finance departments being fired and the CEO being put on leave while the board investigates. 

Mr. Mbugua refused to comment on his suspension.

After a petitioner questioned Energy Cabinet Secretary Monica Juma’s appointments, the High Court stopped their confirmation eight days ago, which led to the suspension.

The state organization charged with extending power to rural regions has a yearly budget of Sh9.6 billion and has had many of its top executives removed for financial mismanagement.

Mr. Mbugua is in his second term as CEO of the state organization responsible for bringing energy to remote areas of Kenya.

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