Puzzle of millions at Egerton University accounts

Egerton University has called on 895 persons who deposited over Sh13m into their bank accounts between 2015 and October 2021 to come forward and identify its purposes.

A memo by the university indicated that there were 895 unidentified deposits made to Cooperative and Kenya Commercial Banks.

The university’s department of Finance and Accounts in the memo dated October 27, 2021, said the funds were deposited into the various university bank accounts but depositors and the purpose of the deposits have been difficult to identify.

The deposits were made between the years 2015 and 2021.

The memo indicates that the deposits were made by individuals who cannot be identified by the institution’s finance system. The university is now calling on whoever made the deposits to come forward and provide supporting evidence so that it can update its records. “Attached is a list of 895 entries relating to funds deposited into the various university bank accounts and whose depositors and purposes for the deposits have been difficult to identify. Please check and come forward with supporting evidence if you made the deposits in order to enable us to update our records accordingly,” read the two-paragraph Memo.

Some of those listed as having made the deposits have no registration numbers and in some instances, only one name has been provided while in others the name and registration number do not match. Some are, however, not active.

From the list, the least deposit made is Sh1 and the highest Sh459, 000. Moses Ouma, the University Finance Officer could, however, not comment or give more details. [Julius Chepkwony]

Egerton is the oldest institution of higher learning in Kenya founded as a Farm School in 1939 by Lord Maurice Egerton of Tatton, a British national who settled in Kenya in the 1920s.

In 1950, the school was upgraded to an Agricultural College offering diploma programmes.