A parliamentary watchdog committee on Tuesday suspended a scheduled meeting with the Financial Inclusion Fund (Hustler Fund) after its management failed to provide evidence for 21 audit queries—more than a year after the issues were first raised.
The Special Funds Accounts Committee, chaired by Hon. Fatuma Zainab, expressed frustration that the Fund had repeatedly ignored requests to supply documentation required by auditors examining the utilisation of public money for the 2022/2023 financial year.
Photo: Parliament
“What we have witnessed today is a mockery of this Committee,” Zainab said, directing the Fund’s newly appointed CEO Henry Tanui to return within seven days with all pending records. “We will not accept excuses. Kenyans deserve clarity.”
MPs questioned why vital documents—including a verified list of beneficiaries and an account of funds yet to be disbursed—had not been submitted despite numerous reminders. Legislators warned that the prolonged failure to provide evidence casts doubt on the Fund’s transparency.
Tanui maintained that “no money has been lost,” disclosing that the Fund had received KSh14 billion from the Exchequer, with KSh1.4 billion currently circulating as loans. But members countered that unrecovered loans still amount to losses in the eyes of taxpayers.
In response to a query by Hon. Charles Nguna, Tanui said the Fund is pursuing a recovery strategy and that all loans are linked to borrowers’ national ID numbers. He assured the Committee that these records will be availed. The MPs, however, challenged him to explain why the details had been withheld for so long.
Vice-Chairperson Hon. Rahim Dawood raised deeper concerns, suggesting that some funds may have been sent to fictitious accounts. He accused the management of shielding senior officials, saying, “The PS is hiding behind your office.”
The Committee warned that it may call for a special audit if the documentation continues to be withheld, noting persistent uncertainties about whether the remaining billions are still intact in the Fund’s accounts.
“This is the last chance,” Zainab stressed. “We must account to the people. We need proper details of who got what money and what has happened since.”
The Committee will reconvene once the documents are submitted as it seeks to establish the full picture of the Hustler Fund’s operations, beneficiaries, and adherence to due process.
