A manager of Cyabingo Savings and Credit Co-operative (SACCO) from Cyabingo Sector in Gakenke District has been arrested following alleged fraud and misappropriation of funds amounting to over Rwf54million. Fulgence Kanyaruhengeri was apprehended over the weekend, Rwanda Investigation Bureau (RIB) spokesperson Marie-Michelle Umuhoza confirmed to The New Times “It is true; the suspect is currently detained at Cyabingo Post over fraud and embezzlement. Investigations are going on as we speak,” Umuhoza noted without divulging details. Umuhoza further urged the general public, especially those in charge public funds management to be cautious about financial malpractices by notably sharing information on the vice with law enforcement organs for the culprits to be brought to book. The mayor of Gakenke District, Déogratias Nzamwita, explained that an audit that was recently conducted in Cyabingo SACCO revealed that there were over Rwf54million missing in the cooperative with its officials failing to provide convincing explanations. The mayor assured that the district will strive to protect interests of its citizens who are prime beneficiaries of the SACCO by holding accountable whoever involved in fraud and misappropriation of funds that happened in the cooperative. Cyabingo SACCO has a total of 8,154 active members who in their day-to-day endeavors work with the cooperative through saving and acquiring loans among other financial services.
