NSSF management fails to account for Hazina Towers construction costs

The management of the National Social Security Fund (NSSF) failed to account for the Hazina Towers construction costs. They have failed to explain why the cost of construction remained the same despite a scale down of its floors.

According to the initial plan, the building was to have 36 floors, built at a cost of Sh6.7 billion. However, NSSF later reduced the floors to 15. Despite this, the management of the social fund failed to disclose the new cost to MPs. This is also despite the contractor being on site and continuing with work.

Construction of the towers began in June 2013 with an expected completion date of July 2016.  Members of the Parliamentary Investments Committee said that the NSSF would be liable for any taxpayers money lost in the project. They also instructed the halting of the building construction as well as re-tendering of the same with a view to saving taxpayers’ money.

Also read:”We are broke!” Government admits.

Assessment

The MPs also told the Auditor-General to visit the site to ascertain the cost and extent of work done. Queries were also raise on possibility of fraud, citing the lack of management to come up with an exact number for the cost. The committee also requested the management to provide proper documents detailing when they decided to settle on 15 instead of 36 floors.

 

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