Fresh details published by The Standard have cast a spotlight on alleged financial misconduct within the Football Kenya Federation, placing its president Hussein Mohamed at the centre of a growing controversy.
According to the report, Sh42 million meant for insurance cover during the 2025 African Nations Championship (CHAN) was wired to a little-known firm, Riskwell Insurance Brokers Ltd, on August 4 — the very day the tournament opened.
The transaction has raised red flags due to the firm’s lack of licensing and operational history.
Records indicate that Riskwell had only been incorporated 40 days earlier, on June 25, 2025, and had no regulatory approval to operate as an insurance broker.
The Insurance Regulatory Authority confirmed in writing that the company had never been licensed, effectively rendering the transaction unlawful under the Insurance Act.
Further scrutiny reveals that the procurement process may have been bypassed.
Established insurers, including Takaful Insurance of Africa, Old Mutual Kenya, and Britam Holdings, had submitted bids. Britam’s offer of Sh29.1 million was significantly lower, raising questions about why a higher, irregular bid was selected.
Investigations also suggest Riskwell operated as a “ghost company,” with no VAT obligations, tax filings, or recorded business activity with the Kenya Revenue Authority.
Adding to the concerns, one of the firm’s directors is reportedly linked to a senior FKF official, pointing to a possible conflict of interest.
A payment advice slip from Ecobank Kenya, timestamped 3:08 PM on August 4, allegedly bears Hussein Mohamed’s email address, placing him at the centre of the transaction trail.
The report further claims Hussein attempted to block publication by dispatching emissaries to the newsroom, a move interpreted as an effort to suppress the story. He has also reportedly been out of the country, citing inability to respond until his return.
The unfolding saga mirrors concerns previously raised by the Ethics and Anti-Corruption Commission in a 2024 report recommending prosecution of former FKF president Nick Mwendwa over similar financial practices.
Whistleblower Ustadh Okello Kimathi is said to have already submitted a dossier to the anti-graft agency, intensifying pressure on Hussein Mohamed to step aside as investigations loom.