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CS Munya’s Sh5m Loan Sparks Distress At Agricultural Finance Corporation

CAPTION: CAPTION: Agriculture Cabinet Secretary Peter Munya whi has been accused of using Mr Kubai as a proxy to destabilize and collapse AFC

Tension is rife at the Agricultural Finance Corporation (AFC) where oppressed staffers continue to express strong dissatisfaction over the poor running of affairs by the current administration led by a rogue Managing Director (MD) George Kubai, who has allegedly converted the financial institution into his personal cash-cow.

In two of our previous articles, this blog exclusively highlighted cases of increasing discrimination, tribalism, lack of staff motivation and work terrorism at the state owned financial institution funded by taxpayers’ money.

Trusted insiders within the corporation disclosed how Mr Kubai has been siphoning funds by unlawfully self-awarding staff loan allocations running to millions of shillings under the blessings of Agriculture Cabinet Secretary Peter Munya.

Agriculture Finance Corporation Managing Director George Kubai

In 2021 alone, they said Mr Kubai irregularly diverted over Sh14 million into his personal bank accounts, devoid of all laid down codes and guidelines.

By April 2022, he had reportedly drained not less than Sh30 million from AFC.

This came at the expense of hundreds of workers who say they cannot access salaries, staff loans or house loans.

In what appears to be a bizarre case of a teacher learning from his own student, reliable sources have now intimated that Mr Kubai’s boss, the not so honourable CS Peter Munya, is also discreetly dipping his hands in the forbidden honeypot.

From the latest submission forwarded to us, an employee who sought anonymity revealed that the Azimio La Umoja brigadier has been carefully drawing out small amounts to avoid much public attention.

Most recently, the CS strongly allied with ODM Party Leader Raila Odinga is said to have unprocedurally granted himself a Sh5m token disguised as a top up for an existing loan which he does not bother servicing.

The deal that was sealed at the AFC Development House Branch was one of its kind, since AFC policies absolutely prohibit top up loans.

Even cash-strapped staff members who attempt to apply are immediately denied access.

But in Munya’s case, they instantly wired the money to his account.

“Hi, Nyakundi, 

I also work for the Agricultural Finance Corporation.

Just two months ago, CS Peter Munya himself unprocedurally took a loan of Sh5m at the AFC Development House Branch.

Apparently, it is a top-up of a loan which he never services.

Mark you, AFC NEVER gives top-ups.

Munya is the only person to be given a top-up.

They prohibit even staff from accessing top-ups,” the source writes.

Some affected quarters of the workforce have raised worry that all this has been happening under the silent watch of the Ethics and Anti-corruption Commission (EACC), the Directorate of Criminal Investigations (DCI) and other relevant authorities mandated with safeguarding public funds from such greedy vultures.

There is also a reportedly increasing fear that many jobs are on the line tanks to constant threats and intimidation from Mr Kubai and his loyal minions.

The disgraced puppets include Bonano, Mungai, Onsongo, Akeno and some other guy only referred to as” The boy from Communications”.

Anyone suspected of being against the havoc-wreaking cabal is immediately labelled as a rebel and flimsy charges instigated against them.

Apparently, Mr Kubai has grown so desperate to eliminate rebels to the extent of planting spies at every corner of the finance institution.

He is also notorious for tapping mobile phone calls and the official electronic mail system at their offices.

Many staffers have also fingered the Human Resource department for lacking leadership and direction.

Mr Kubai, believed to be well- favoured by Mr Munya, has also operated from November last year without a board of directors.

 


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