By Kemuma Achieng
COTU’s Secretary-General, Francis Atwoli, responded to Rigathi Gachagua’s request that Kenyans take their NSSF savings out by saying that it is not a wise move. "We wish to remind Gachagua that social security is a serious matter and not a political playground," Atwoli said. "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."
In a clear statement, Atwoli accused Gachagua of indirectly working to sabotage the NSSF’s operations and making blatantly negative comments. Atwoli asked Gachagua to know that social security is a serious topic and should not be politicized.
Atwoli put doubt on Gachagua’s abilities to handle investment by citing what he knows about his revealed business deals and controversies. "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," he said.
In addition, the leader of COTU mentioned that the NSSF operates by rules approved by the Retirement Benefits Authority (RBA). Nevertheless, he suggested that the Board of Trustees solve audit challenges for Ksh16 billion in the financial period ending June 2024.
Atwoli responded because Gachagua claimed that funds are being taken from NSSF for infrastructure and some untrustworthy agreements, including a 99-year Bomas of Kenya lease to an Indian business. Gachagua advised people to move their cash out from the bank to avoid being caught without money.
It demonstrates that there are many challenges when it comes to government institutions, public finance, and Kenya’s economy.
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