The NSSF Audit Dossier on Mismanaged Billions and Stalled Housing Projects

The National Social Security Fund (NSSF) is facing significant challenges. A new report from the Auditor General indicates that the fund has failed to manage its money properly. At the center of the problem is KSh 4.02 billion in idle land and buildings.

These failures put the retirement savings of millions of Kenyans at risk. The Consumers Federation of Kenya (COFEK) is now demanding a deep investigation to protect the workers’ money.

Idle Land and Stalled Housing Projects

The audit report for the year ending June 2025 shows a bad habit of poor management. NSSF owns costly land in the middle of Nairobi worth KSh 4.02 billion that has stayed empty for many years. Even worse, NSSF cannot prove that it legally owns some of these properties.

Older housing projects like the Nyayo Embakasi Estate Phase Four have been stagnant for over ten years, while these prime plots remain idle. Despite these failures, NSSF recently sent KSh 1.4 billion to start new projects in Machakos and Kisumu. Experts say it is a mistake to borrow more money for new houses while the old ones are falling apart.

Lost Member Records and Internal Rot

The savings of ordinary Kenyans are also in danger because of poor record-keeping. The audit found that KSh 163 million in member records has disappeared, meaning the money contributed by thousands of workers cannot be found. Furthermore, another KSh 81.9 million is sitting in "suspense accounts" with no clear owners.

Beyond the missing data, the audit found that NSSF has been wasting money on staff perks. Around KSh 21.2 million was paid as extra allowances to staff without Board permission. These unauthorized payments show that management is not following the law and is wasting members' money.

Who is to Blame for the Collapse?

According to the findings, the blame for this crisis falls on three specific groups within the institution:

• The NSSF Management and CEO: Led by CEO David Korros, the leadership is responsible for the missing KSh 163 million in member records and the messy "suspense accounts." Their failure to protect basic data is a direct hit to worker trust.

• The NSSF Board of Trustees: The Board failed in its watchdog role by allowing KSh 21.2 million in unauthorized staff payments. They also failed to secure the legal papers for land worth KSh 4.02 billion, leaving it open to land grabbers.

• The Project Planning Department: This team is blamed for wasting KSh 1.4 billion on new projects while existing ones like Nyayo Embakasi rot in the sun. This reflects a total lack of strategic planning.

Conclusion

The KSh 4.02 billion NSSF scandal is a major test for the institution. With billions of shillings in question and housing projects standing still, the NSSF bosses must speak up. Because of these findings, COFEK wants a full forensic audit to find all the hidden problems.

They want the Public Investments Committee (PIC) to call the NSSF CEO, David Korros, to explain these issues. Workers are waiting for answers. They want to know that their future is safe and that their hard-earned money is not being lost to incompetence.