The Central Organisation of Trade Unions (COTU) has accused former Deputy President Rigathi Gachagua of misleading the public over how the National Social Security Fund (NSSF) manages workers’ money.
This comes after Gachagua stirred controversy with explosive claims about the misuse of NSSF resources, accusing key figures in government of corruption and mismanagement.
Speaking at a public gathering in Mazeras on Saturday, June 7, Gachagua said NSSF funds meant for workers’ retirement are being diverted to infrastructure projects and questionable deals, including a 99-year lease of Bomas of Kenya to an Indian investor.
Gachagua did not hold back in his criticism of what he described as blatant misuse of public funds. He claimed President William Ruto has been siphoning NSSF money for personal gain.
“NSSF hiyo pesa Kasongo amepanga, ametoa hiyo pesa kinyume na sheria,” said Gachagua.
He said the funds are being used to bankroll the construction of the Mau Summit-Rironi highway, a major infrastructure project set to begin in June and expected to be completed by June 2027.
“Ametoa hiyo pesa ati kujenga barabara ya Mau Summit, kutoka Rironi,” said Gachagua.
Gachagua argued NSSF contributions are meant for investments that secure workers’ retirement, not for infrastructure.
“Pesa ya NSSF hapana kufanya infrastructure, hiyo ni pesa ya kufanya investment ndio hao watu uzeeni wapate mapato yao,” he added.
COTU responded by calling the remarks false and politically motivated.
The union defended NSSF’s investment strategy and demanded transparency from the fund on Sh16 billion flagged in a recent audit.
“Gachagua’s reckless statements on NSSF are misleading and aimed at stirring public doubt,” said Secretary General Francis Atwoli in a statement on Sunday, June 8.
The union said NSSF’s portfolio had grown from Sh26 billion to over Sh1 trillion under strict guidelines approved by the Retirement Benefits Authority.
“All investments are managed by licensed professionals who follow the law,” said Atwoli.
COTU also dismissed Gachagua’s claims that Atwoli influences fund decisions, clarifying his board term ended in 2021.
Atwoli urged NSSF to publicly respond to audit queries raised by the Auditor General about the Sh16 billion in the financial year ending June 2024.
The Central Organisation of Trade Unions (COTU) has accused former Deputy President Rigathi Gachagua of misleading the public over how the National Social Security Fund (NSSF) manages workers’ money.
This comes after Gachagua stirred controversy with explosive claims about the misuse of NSSF resources, accusing key figures in government of corruption and mismanagement.
Speaking at a public gathering in Mazeras on Saturday, June 7,
Gachagua said NSSF funds meant for workers’ retirement are being diverted to infrastructure projects
and questionable deals, including a 99-year lease of Bomas of Kenya to an Indian investor.
Gachagua did not hold back in his criticism of what he described as blatant misuse of public funds. He claimed President William Ruto has been siphoning NSSF money for personal gain.
“NSSF hiyo pesa Kasongo amepanga, ametoa hiyo pesa kinyume na sheria,” said Gachagua.
He said the funds are being used to bankroll the construction of the Mau Summit-Rironi highway, a major infrastructure project set to begin in June and expected to be completed by June 2027.
“Ametoa hiyo pesa ati kujenga barabara ya Mau Summit, kutoka Rironi,” said Gachagua.
Gachagua argued NSSF contributions are meant for investments that secure workers’ retirement, not for infrastructure.
“Pesa ya NSSF hapana kufanya infrastructure, hiyo ni pesa ya kufanya investment ndio hao watu uzeeni wapate mapato yao,” he added.
COTU responded by calling the remarks false and politically motivated.
The union defended NSSF’s investment strategy and demanded transparency from the fund on Sh16 billion flagged in a recent audit.
“Gachagua’s reckless statements on NSSF are misleading and aimed at stirring public doubt,” said Secretary General Francis Atwoli in a statement on Sunday, June 8.
The union said NSSF’s portfolio had grown from Sh26 billion to over Sh1 trillion under strict guidelines approved by the Retirement Benefits Authority.
“All investments are managed by licensed professionals who follow the law,” said Atwoli.
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COTU also dismissed Gachagua’s claims that Atwoli influences fund decisions, clarifying his board term ended in 2021.
Atwoli urged NSSF to publicly respond to audit queries raised by the Auditor General about the Sh16 billion in the financial year ending June 2024.
By David Njaaga