Battle over Musco Towers goes to the Senate

The battle to save Musco towers is raging on in the Senate. Betty Maina, the Cabinet Secretary for Trade and Cooperatives was summoned to the senate in an inquiry on behalf of the Moi University Savings and Credit Society that is fighting to save its property from falling to the auctioneer’s gavel.

Five members of Musco filed the petition on behalf of the other 3,000. They wanted to inquire into what they termed a scheme to defraud shareholders of their property.

Uasin Gishu Senator Margaret Kamar sponsored the petition by Musco members Pamela Moraa, Jack Abok, Michael Kangogo, David Kamau, and Rose Koima.

Musco says that liquidators were appointed against procedures, and that the property was deregistered at a speed that raised suspicions.

They argue that the building was worth SH 650 million even though it was to be auctioned for Sh 250,000.
Senators who contributed to the debate were Mutula Kilonzo Jr. and Moses Wetangula who said the matter was serious.

Musco members are employees of Moi University and the University of Eldoret.

The petitioners opted to take their case to the senate after they lost the battle in court.

 

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