The Secretary General of the Central Organisation of Trade Unions (COTU), Francis Atwoli, has strongly condemned former Deputy President Rigathi Gachagua for encouraging Kenyans to withdraw their money from the National Social Security Fund (NSSF).
Atwoli has called this advice irresponsible and has even threatened to take legal action against Gachagua, accusing him of pushing an agenda that could damage the country’s economy.
Atwoli issued a statement just a day after Gachagua made his controversial remarks in Mazeras. He described Gachagua’s advice as dangerous, saying it amounted to economic sabotage.
Atwoli urged the government to seriously consider suing the former deputy president for making reckless statements that could lead to a collapse of the social security system.
“Social security is a serious national issue, not something to joke about or use for political games,” said Atwoli in the statement. “Gachagua’s call for Kenyans to withdraw their savings from NSSF is not only careless but seems to be a deliberate attempt to weaken the fund.”
He added that the remarks showed ignorance and were misleading to the public. Atwoli criticized Gachagua for claiming that the government was stealing from NSSF, saying such allegations were baseless and lacked evidence.
Atwoli pointed out that growing the NSSF from a Ksh26 billion fund to over a trillion shillings had taken many years of effort and careful investment planning. He stressed that it was wrong for Gachagua to act as though he had the moral authority to advise anyone about financial matters.
“Gachagua has no right to give Kenyans or any institution financial advice. His history shows a pattern of acquiring wealth through questionable business dealings and public procurement processes,” Atwoli stated.
He even went further to accuse Gachagua of grabbing his own brother’s property, allegedly going against the wishes of the family.
The COTU boss also reminded Kenyans that Gachagua had previously served on the NSSF board but left in 2021 when he retired.
He said Gachagua’s current criticism of the fund was hypocritical, considering he had once been part of its leadership.
According to Atwoli, NSSF follows strict rules when it comes to investing workers’ money. All NSSF investments are handled by licensed investment managers and must follow guidelines set by the Retirement Benefits Authority (RBA). These rules are put in place to protect workers’ funds and ensure transparency.
However, Atwoli also acknowledged that there are valid concerns about how the NSSF is managing its finances. He urged the Board of Trustees to come forward and respond to audit questions raised by the Auditor General for the financial year ending in June 2024.
The audit has questioned how over Ksh16 billion has been used, and Atwoli believes the public deserves clear answers.
Gachagua, while speaking at an event in Mazeras on Saturday, June 7, alleged that NSSF funds were being misused.
He claimed that the money was not being saved for workers’ future, but was instead being used to fund major government projects such as the Mau Summit–Rironi highway, which is expected to begin construction in June and finish by June 2027.
He also alleged that a long-term 99-year lease had been given to an Indian investor for Bomas of Kenya, and implied that such deals were suspicious.
Gachagua insisted that Kenyans should withdraw their NSSF savings before their money is lost through mismanagement.
In response, Atwoli urged Kenyans to ignore Gachagua’s statements and trust that their retirement savings are safe if managed through proper channels.
He emphasized the importance of protecting social security systems from political interference and called on authorities to act against any attempts to destabilize institutions meant to safeguard workers’ futures.
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