Mumias CEO Nashon Aseka suspended

Mumias CEO Nashon Aseka suspended

- in Business, News

Mumias Sugar has suspended Chief Executive Officer Nashon Aseka over “doubtful transactions” that appear to have been entered without following proper procedures.

Mumias, which used to be the East African nation’s leading producer at more than 250,000 tonnes a year, has been beset by poor management and mounting losses in recent years.

The company’s board said Aseka’s suspension would pave way for further investigation. It did not say how long the suspension, which takes immediate effect, would last.

“Some doubtful transactions appear to have been entered into without following due process and requisite approvals,” the board said in a statement, without giving details of the transaction.

The board named Patrick Chebosi, its head of agriculture, as acting chief executive officer.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like

Court declares Finance Bill illegal

The government suffered a major blow on Wednesday