New report indicates loss of Sh. 2.3 billion at NCPB

A report has revealed that the National Cereals and Produce Board (NCPB) cannot account for money which was proceeds from fertilizer sold to farmers.

In the latest audit report table in parliament by outgoing Auditor General Edward Ouko for the financial year ended June 30th 2018, the cereals body failed to account for Shs. 2.3 billion realized from the same of over 2 million bags of fertilizer.

The report adds that the cereals board did not bank all revenue realised from the sale of local blends of fertilizer that were procured by the State Department of Agriculture to Kenya Commercial Bank for onward transmission to the statement department’s account at the Central Bank of Kenya.

During the year under review, NCPB sold fertilisers to farmers at subsidized prices of Sh1,500 for a 50kg bag of all planting fertilizers like DAP and NPK blends and all top dressing fertilisers such as CAN, UREA and Sh1,300 for a 50kg bag of Sulphate Ammonia.