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Naikuni's legacy...
1/
The DCI wants to establish how Kenya’s national carrier lost Sh100bn between 2003 and 2014, the nine years when Titus Naikuni was in charge.
“We are on this matter. We are working to unravel the looting that went on there,”
the-star.co.ke/news/2019-08-3…
1/
The DCI wants to establish how Kenya’s national carrier lost Sh100bn between 2003 and 2014, the nine years when Titus Naikuni was in charge.
“We are on this matter. We are working to unravel the looting that went on there,”
the-star.co.ke/news/2019-08-3…
2/
According to the Deloitte dossier, KQ used the black market to repatriate cash from Sudan, South Sudan and Ethiopia back to Nairobi.
The company used an agent identified as Khalid Mohammed Ali who charged an exorbitant fee and in turn made himself bns while KQ lost bns.
According to the Deloitte dossier, KQ used the black market to repatriate cash from Sudan, South Sudan and Ethiopia back to Nairobi.
The company used an agent identified as Khalid Mohammed Ali who charged an exorbitant fee and in turn made himself bns while KQ lost bns.
3/
One of the key areas of investigation is the purchase of second-hand planes from KQ’s Dutch shareholder KLM at Sh2 billion and selling off the same aircraft at Sh200 million after only five years — a loss of Sh1.8 billion.
One of the key areas of investigation is the purchase of second-hand planes from KQ’s Dutch shareholder KLM at Sh2 billion and selling off the same aircraft at Sh200 million after only five years — a loss of Sh1.8 billion.
4/
Reports have emerged where a tech-savvy employee hacked into the OASES inventory management system, created an account “rk’ and within a year made away with Sh60 million spare parts.
Reports have emerged where a tech-savvy employee hacked into the OASES inventory management system, created an account “rk’ and within a year made away with Sh60 million spare parts.
5/
The airline lost Sh77 billion in undervalued tickets and the huge discounts allocated to travel agents who in turn charge travelers a premium.
The auditors believe this could be because some KQ employees secretly owned travel agencies and were exploiting weaknesses...
The airline lost Sh77 billion in undervalued tickets and the huge discounts allocated to travel agents who in turn charge travelers a premium.
The auditors believe this could be because some KQ employees secretly owned travel agencies and were exploiting weaknesses...
6/
Even in the procurement of jet fuel, KQ still bought overpriced fuel on account of their hedging policy. When the maths was eventually done, it showed the airline had lost Sh3.3 billion.
Even in the procurement of jet fuel, KQ still bought overpriced fuel on account of their hedging policy. When the maths was eventually done, it showed the airline had lost Sh3.3 billion.
7/
KQ also wound up a profitable cargo subsidiary, gave its business to a rival company and paid Sh400 million to the company, instead of expanding its cargo capacity, the auditors said.
KQ also wound up a profitable cargo subsidiary, gave its business to a rival company and paid Sh400 million to the company, instead of expanding its cargo capacity, the auditors said.
8/
Let me leave you with this nugget from 201
"Speaking on Tuesday when he appeared before a Senate committee, Naikuni said that he had no interest in the companies that Kenya Airways outsourced services from, adding that his interest was only in cows."
citizentv.co.ke/business/im-in…
Let me leave you with this nugget from 201
"Speaking on Tuesday when he appeared before a Senate committee, Naikuni said that he had no interest in the companies that Kenya Airways outsourced services from, adding that his interest was only in cows."
citizentv.co.ke/business/im-in…
2015*
