Trade Cabinet Secretary Peter Munya has halted Ekeza Sacco Chairman David Kariuki Ngari's plan to repay members with auction proceeds.
Munya who spoke on Thursday during a press briefing has since directed the Commissioner of Cooperative to stop the auctioning of the Sacco's property.
Munya has also refuted claims by Bishop Ngari that bank accounts attached to the Sacco had been frozen.
He disclosed that accounts belonging to the Sacco were still active as they were still a signatory with the Commissioner of Cooperatives, adding that they have been able to refund Sh116 million to over 2,000 members.
“I am not convinced that the proceeds of the sale will be used to repay the members," said Munya.
Munya's remarks come days after Bishop Ngari indicated that he was in the process of selling some of his prime property in a bid to pay back members' dues.
Speaking in Thika after a service at the Calvary Chosen Centre church, Ngari assured the 53,000 members of the Sacco that they would be receiving their savings after he sold his properties.
"I want to assure all the 53,000 members of Ekeza Sacco that no one will lose his or her money. All those who want their money refunded will get it back and that's why I put up for sale all properties that I have so that I can raise the money to repay back your money," said Gakuyo.
The property that had been put up for sale include a residential house in Nyari, a hotel in Juja and a 50-acre piece of land in Kilimambogo.
Munya also added that his Ministry will take decisive measures on anyone found guilty of misusing funds belonging to cooperatives which have played a major role in the development of the country.
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