Nairobi, April 23, 2026 — Fresh documents and regulatory confirmations have triggered a major corruption storm at the Football Kenya Federation (FKF), with allegations that Sh42.4 million in tournament funds was paid on the opening day of the African Nations Championship (CHAN 2024) to Riskwell Insurance Brokers Ltd — a company incorporated just 40 days earlier, lacking any licence from the Insurance Regulatory Authority (IRA) and showing every hallmark of a shell entity.359
The payment, equivalent to USD 328,735, was wired on 4 August 2025 — the very day Kenya kicked off the tournament against DR Congo at Kasarani Stadium — to Riskwell’s account at First Community Bank (now Premier Bank).
A procurement trail reviewed by multiple outlets, including a front-page investigation by The Standard, shows FKF deliberately bypassed competitive bidding from established players. At least three licensed insurers — Takaful, Old Mutual and Britam — submitted valid quotations. Britam’s bid came in at Sh29.1 million, Sh13.3 million cheaper than what Riskwell ultimately received. No explanation has been offered for rejecting the lower bids.57
Riskwell Insurance Brokers Ltd was registered on 25 June 2025 with a nominal share capital of just Sh100,000 (Company No. PVT-A71VDDYY). Its three directors — Mohamud Yarrow Ibrahim (first listed, 300 shares), Abdullahi Mohamud Sheikh (majority 400 shares) and Nyairo Tom Nyairo (300 shares) — have no verifiable track record in the insurance industry, according to public registries, IRA databases and professional directories. The company’s registered office at “The Oval Office, Waiyaki Way, Westlands” does not exist at that location; physical verification found no trace of operations there. Riskwell filed no KRA returns, held no VAT obligations and recorded zero trading activity — classic indicators of a phantom broker.
The IRA has explicitly disowned the firm. In writing, the regulator confirmed Riskwell held no licence for 2025 or any prior year, rendering the brokerage contract illegal under the Insurance Act. The Association of Insurance Brokers of Kenya (AIBK) also has no record of the company. Despite this, FKF’s then-CEO Harold Ndege referenced a procurement process in internal correspondence, yet the federation still authorised the full payment. Bank advice for the transfer lists FKF President Hussein Mohammed’s personal email as the contact for the account holder, placing him directly at the centre of the transaction.56
Further red flags surround one director. Mohamud Yarrow Ibrahim’s phone number (0721929267) links via Truecaller and M-Pesa records to “Gedi Yarrow (Takaful)”, tying him to Takaful Insurance — one of the firms that had prequalified and bid for the same contract. He shares a surname and documented Facebook connections with Abdallah Yusuf Ibrahim, a co-opted FKF National Executive Committee member, raising clear conflict-of-interest concerns that have not been addressed.1
Whistleblower Ustadh Okello Kimathi has already filed a comprehensive dossier with the Ethics and Anti-Corruption Commission (EACC), including the full payment trail, IRA confirmation and company documents. He has publicly called for President Hussein Mohammed to step aside to allow unhindered investigations. The EACC’s own Q1 2024 report had earlier flagged similar procurement patterns under former FKF president Nick Mwendwa, recommending prosecution — yet the alleged repeat under new leadership has alarmed observers.4
The Standard reports that Hussein Mohammed attempted to block publication by dispatching four emissaries to its newsroom. He has since remained silent, reportedly in Uganda, stating he could not comment until his return. Multiple outlets attempting to reach FKF for comment received no substantive response. The Local Organising Committee chairman, Nicholas Musonye, insisted the tournament was insured as required by CAF, but declined to name the provider or produce proof.71
The scandal comes as Kenya eyes bigger continental hosting roles, including a potential AFCON 2027 bid. Critics argue that if no valid Sh3.9 billion civil liability cover was ever placed — as the unlicensed broker’s involvement suggests — players, officials, fans and the public were exposed to unnecessary risk during the month-long tournament co-hosted with Uganda and Tanzania.
EACC CEO Abdi Ahmed Mohamud now faces a high-stakes test. The commission must determine whether public funds were siphoned through a shell company, whether any insurance was actually secured, and whether senior FKF officials, including the president, facilitated what amounts to criminal procurement under the law.
FKF has promised integrity and transparency since Hussein Mohammed’s election in December 2024. This episode — already dubbed “The Phantom Cover” by investigators — will define whether those promises were real or rhetorical. The public, CAF and FIFA are watching. So is the taxpayer.
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