Uasin Gishu County Senator Kamar on Wednesday tabled a petition before the Senate seeking to halt the auctioning of the Moi University Savings and Credit Cooperative Society (MUSCO) Towers building in Eldoret town.
The Senator who tabled the petition signed by five MUSCO officials wants the auctioning of the buiding halted until the matter is heard and determined.
While declaring her interest on the matter, Kamar said she joined Moi University and was a Sacco member for 22 years.
In the petition, on behalf of its members, the officials said the SACCO was operating profitably until the year 2017-2018 when challenges of non remittance of deductions by the Moi university emerged and their license revoked.
The SACCO had acquired a loan from Cooperative Bank leading to the who impasse.
The matter went through the commissioner of cooperatives, the county government of Uasin Gishu, the court as well as SASRA. However the petitioners accuse the relevant Ministry of failing to give MUSCO a fair hearing.
They claima a liquidator was appointed and the building notified for auction at an undervalued cost of Sh250 million down from the actual value of Sh650 million.
The Senate Speaker Kenneth Lusaka ruled that the matter be deliberated by the Standing Committee of Tourism, Trade and industrialization by summoning the relevant Cabinet Secretary urgently, and an interim report expected in the next seven days and the final one within 60 days.
More than 3,600 employees of Moi University, Masinde Muliro University, University of Eldoret, Kabianga University and the Moi Referral Hospital who are members and shareholders of MUSCO risk losing the investment should the auction proceed.
