Youth Enterprise Development Fund Chairman Ronnie Osumba talks about the Sh 10 Billion Scandal

The Youth Enterprise Development Fund (YEDF) has sent on compulsory leave seven employees pending investigations on irregular loan disbursements. The seven, among them two senior managers, were suspended following an internal audit, which established that Sh10,765,000 may have been lost. The suspension came after YEDF CEO Josiah Moriasi ordered the internal audit department to conduct an assessment of its systems. This was done after a process of migrating the fund's data to a new system that includes beneficiary loan details revealed some discrepancies. In one instance, the audit revealed that one official was in charge of several transactions where three youth groups from Makadara, Kajiado North and Bomet East constituencies were receiving loans that had not been approved. SUBSCRIBE to our YouTube channel for more great videos: https://www.youtube.com/ Follow us on Twitter: https://twitter.com/KTNNews Like us on Facebook: https://www.facebook.com/KTNNewsKenya For more great content go to http://www.standardmedia.co.ke/ktnnews and download our apps: http://std.co.ke/apps/#android KTN News is a leading 24-hour TV channel in Eastern Africa with its headquarters located along Mombasa Road, at Standard Group Centre. This is the most authoritative news channel in Kenya and beyond.