Egerton University is facing a financial crisis after the Commissioner for Cooperative Development froze its bank accounts over workers’ deduction arrears.
According to The Standard, the bank accounts were frozen a week ago owing to a debt amounting to Sh246 million.
The Commissioner for Cooperative Development, Mrs Mary Mungai stated that the University had not been remitting contributions deducted from employees from January this year to date.
According to the local daily, the Vice Chancellor had offered to give the Cooperative Sh60 million as the first instalment to have one of the bank accounts that had Sh203 million unfrozen but her request was denied when she failed to commit the university in paying the balance.
Three Campuses Shut
Meanwhile, panic has gripped Trans Nzoia County after the successive closure of three universities – Kisii University, Mt Kenya University (MKU) and Moi University Kitale campuses.
The three universities have decried low enrolment and high operational cost as the factors that have pushed the administrations to close the campuses and transfer students to other institutions.
Kisii has had its Kitale campuses in Trans Nzoia relocated to Kapenguria in the neighbouring West Pokot County while students at MKU campus have been moved to Eldoret campus in Uasin Gishu County.
Moi University’s Kitale Campus has also ordered students at the facility to Eldoret town-based West Campus.
The Catholic University of Eastern Africa is equally facing challenges over a loss of Sh400 million.