Fresh questions are emerging at Nafasi DT Sacco Society Limited after members demanded answers over reports of account irregularities that sparked anxiety among depositors and shareholders.

The concerns began after information circulated among members alleging that millions of shillings had been wrongly paid out from the Sacco and questioning whether some staff members had withdrawn funds before recovery efforts could begin.

One message shared among members asked:

"Is it true that our Nafasi Sacco may have erroneously paid out millions of shillings to staff holding accounts with them? Could it also be true that some staff, including senior managers, chose to withdraw the money to beat recovery efforts by Nafasi?"

The message quickly spread among members, many of whom began demanding an official explanation from the Sacco's leadership.

According to information shared with this publication, one member challenged the Sacco's management to publicly address the reports instead of allowing speculation to spread among members whose savings are held by the institution.

The member reminded the Sacco that confidence is the foundation of every deposit-taking cooperative and warned that silence would only fuel panic.

The matter then drew a response from Chief Executive Officer Claire Nasila, who initially asked members to specify the exact allegations being referred to before the Sacco could respond.

After further questions from members, the Chief Executive Officer issued another statement seeking to reassure depositors.

In that statement, Ms. Nasila said members' deposits and savings were safe and denied claims that millions of shillings had been lost.

She acknowledged that there had been an issue involving ten member accounts, saying management had detected the problem and immediately started recovery efforts.

According to the CEO, recovery has been substantially completed, with only one recovery case remaining under the Sacco's normal recovery process.

Ms. Nasila also denied allegations that senior management was involved, saying there was no evidence implicating any senior manager in the matter.

The CEO urged members to rely on official communication from the Sacco instead of unverified reports circulating on social media.

While the statement sought to calm members, it has not ended the questions.

Some members say the CEO's response confirms that there was indeed an issue requiring recovery, even if they dispute the scale described in earlier messages.

They are now asking for greater transparency.

Among the questions members want answered are:

What exactly happened?

How did the irregular payments occur?

What internal controls failed?

How much money was involved?

Has every shilling been recovered?

Has an independent audit been conducted?

If the matter involved staff accounts, what disciplinary or legal action has been taken?

Members argue that these are reasonable questions because Nafasi DT Sacco holds members' savings, loans and investments, making public confidence critical to its operations.

The matter also places responsibility on the Sacco's Board of Directors, the Audit Committee and senior management to provide clear information to members whenever issues affecting financial controls arise.

The leadership of Nafasi DT Sacco is led by a dedicated Board of Directors and a professional executive management team that oversees its strategic and day-to-day operations.

The board is led by the National Chairman, Mr. Kipkoech Mwarey, who governs alongside other prominent directors such as Mr. Paul Pudo and Kevin Njoroge.

On the executive front, the day-to-day operations and organisational growth are managed under the stewardship of the Chief Executive Officer (CEO), Claire Nasila Wambasi, who succeeded the former CEO, Mr. Moses Njeru Nyaga. The core management and operations team also includes key professionals such as James Chege, Amy Belinda, and Rose Chemutai (Operations Officer), who work collectively to maximise member value and implement the SACCO’s financial solutions.

As a deposit-taking Sacco, Nafasi DT Sacco Society Limited is regulated by the Sacco Societies Regulatory Authority (SASRA). The regulator is responsible for supervising deposit-taking SACCOs, promoting sound governance and protecting members' interests. Members who believe there are governance or financial concerns may also expect oversight from the Sacco's Board and external auditors.

The concerns also come at a time when confidence in financial institutions remains a sensitive issue. History has shown that uncertainty and rumours can spread quickly among depositors, making timely and transparent communication essential whenever questions arise about members' funds.

Below is the concerns shared by members.

Hi Nyakundi.

There is a Sacco called Nafasi DT Sacco. Members are crying and worried because information has been circulating that members' money may have been misused.

A member asked the CEO to clarify the reports publicly because shareholders were panicking.

The CEO later responded saying members' savings were safe, that the issue involved only ten accounts and that recovery was almost complete.

Members are now asking for full disclosure of what happened because they believe transparency is the only way to restore confidence.

The CEO is also hiding the names of insiders who defrauded the sacco. She is hiding in terms like recovery is already underway. We want to know the names of the thieves