By Janet Philip
The Central Organisation of Trade Unions (COTU) has issued a sharp rebuke to Deputy President Rigathi Gachagua over his recent remarks urging Kenyans to withdraw their savings from the National Social Security Fund (NSSF), calling the comments reckless and irresponsible.
COTU Secretary-General Francis Atwoli condemned the Deputy President’s statements, accusing him of undermining a critical social safety net. “We wish to remind Gachagua that social security is a serious matter and not a political playground,” said Atwoli. “It is, therefore, very reckless and outrightly malicious for Gachagua to call upon Kenyan workers to withdraw their funds with the aim of collapsing NSSF.”
Atwoli warned that Gachagua’s suggestion threatens the stability and integrity of the NSSF, which serves as a lifeline for millions of Kenyan workers upon retirement. He further criticized the Deputy President for politicizing what he described as a sensitive national institution.
In a stinging attack, Atwoli questioned Gachagua’s credibility on matters of investment and finance, citing allegations of controversial business dealings and irregular procurement practices. “Gachagua has no moral ground to advise Kenyans, or any government institution, on investment, considering he has made a name out of amassing billions through business dealings and questionable procurement arrangements known to Kenyans,” Atwoli stated.
The COTU boss also reaffirmed that the NSSF is regulated by the Retirement Benefits Authority (RBA) and operates within a strict legal framework. However, he urged the Fund’s Board of Trustees to address pending audit issues amounting to Ksh16 billion for the financial year ending June 2024.
The outcry follows Gachagua’s claims that NSSF funds are being misused to finance infrastructure projects and questionable agreements, including a 99-year lease of Bomas of Kenya to a foreign investor. The Deputy President had encouraged Kenyans to safeguard their money by withdrawing it from state-controlled savings institutions.
The remarks have intensified debate over the transparency and trustworthiness of public financial institutions, exposing deeper concerns about governance, accountability, and the safety of citizens’ savings in Kenya.
As tensions rise between political leaders and workers’ representatives, the controversy underscores growing public anxiety about the country’s economic direction and the management of national retirement funds.
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