By Andrew Kariuki
Nineteen officials linked to Metropolitan National SACCO appeared in court and denied multiple charges arising from the alleged loss and misuse of more than Ksh14.4 billion belonging to the savings and credit society.
The accused, among them Christopher Kahuno Karanja, Samuel Ndungu Muiruri, John Kimani Munyaka, James Kamau Ngugi, Patrick K. Kagwi, Francis Kamau Nganga, Benson Mwangi Nganga, Paul Kaberere, Geoffrey Wamae, Duncan Chege, Francis Wachiuru Mbae, George Mwihia, Daniel Lee Kamau, Joseph Gachunga Mwaura, Boniface Muthama, Rosemary Chege, Edward Duncan and Lucy N. Kabiru, denied all charges when they appeared before court.
According to the charge sheet, prosecutors accused the officials of conspiring to defraud Metropolitan National SACCO of Ksh14,497,677,664 between 2012 and 2021.
In the first count, the prosecution alleges the accused jointly conspired to defraud the SACCO of the billions through actions undertaken at different times and places within Kenya.
The accused also face charges of investing funds in non-core business contrary to the Co-operative Societies Act. Prosecutors claim that between 2014 and 2021, some of the officials unlawfully authorized the investment of approximately Ksh1.014 billion belonging to the SACCO in the purchase of land in Kitengela, Machakos County, despite the investment allegedly falling outside the institution’s core mandate.
Further counts accuse the officials of failing to report proper accounts, with the prosecution alleging they failed to maintain books of accounts showing a true and fair financial position of the SACCO between 2012 and 2021, contrary to provisions of the Co-operative Societies Act.
The charge sheet further states that some officials are accused of failing to maintain proper books of accounts, failing to appoint an internal auditor, and failing to ensure all loans granted were fully secured as required under SACCO regulations.
In another charge, prosecutors allege the accused failed to maintain a credit committee as required under the SACCO Societies (Deposit Taking SACCO Business) Regulations, 2010.
The prosecution also accuses some officials of failing to establish a tender and short-term liabilities committee, alleging the omissions exposed the SACCO to financial risk.
In addition, court documents allege that officials unlawfully failed to ensure loans granted to members were adequately collateralised and failed to keep proper books of account as required by law.
All the accused persons pleaded not guilty to the charges.
The court granted them to a bond of Ksh200,000 each with one surety of a similar amount, or an alternative cash bail of Ksh70,000.
Warrants of arrests were issued for the second, eleventh and eighteenth accused.
The matter was scheduled for mention on June 22, 2026, when the court is expected to issue further directions on the case involving the retired teachers-linked SACCO funds.
