Central Organization of Trade Unions (COTU), Secretary General Francis Atwoli has called out former Deputy President Rigathi Gachagua over his recent remarks about the management of the National Social Security Fund (NSSF).
In a statement on Sunday, June 8, Atwoli accused Gachagua of spreading false and irresponsible statements meant to mislead the public and destabilize confidence in the institution.
"The Central Organization of Trade Unions (Kenya), COTU (K), wishes to strongly condemn the reckless, false, and irresponsible statements made by former Deputy President Hon. Rigathi Gachagua regarding the management and use of workers' funds at the National Social Security Fund (NSSF).
"Mr. Gachagua's claim that NSSF funds are being misappropriated through investments in roads and construction of public infrastructure is not only a distortion of the facts, but also a dangerous attempt to politicize a critical institution that safeguards the future of millions of Kenyan workers," he said.
Atwoli criticized Gachagua for politicizing matters of social security, warning that such utterances were not only misleading but amounted to economic sabotage.
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"We wish to remind Mr. Gachagua that social security is a serious matter and not a political playground. It is, therefore, very reckless and outrightly malicious for Mr. Gachagua to call upon Kenyan workers to withdraw their funds with the aim of collapsing NSSF. If anything, the utterances by Mr. Gachagua border on economic sabotage, and we call upon the Government of Kenya to consider taking appropriate legal action against him for these outrageous, careless and irresponsible statements.
"Indeed, as others have claimed, it's increasingly becoming clear that Mr. Gachagua did not go to school, if his utterances, that portray him as a leader who thrives in doom and darkness, are anything to go by," he continued.
Atwoli reminded Gachagua of the hard-earned growth of NSSF’s portfolio and cast doubt on the former DP’s moral authority to speak on investment matters.
"As COTU (K) we wish to remind Mr. Gachagua that it has taken years of hard work to grow NSSF's portfolio from Ksh. 26 billion to over a trillion shillings. That said, Mr. Gachagua has no moral ground to advice 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, including seizing his brother's properties against the wishes of the family," he added.
Atwoli also clarified that he no longer has a role at NSSF and called out Gachagua for misleading the public on that matter.
He emphasized that NSSF operates under clear regulatory structures with licensed investment managers and compliance measures.
"Moreover, and for the record, the Secretary General of COTU (K), Dr. Francis Atwoli (the undersigned), is no longer a board member of NSSF, taking in mind that his term expired in 2021 and he was lawfully replaced. It is, therefore, misleading and dishonest for Mr. Gachagua to insinuate that the Secretary General is involved in current decisions regarding NSSF's investments.
"However, it must also be made clear that NSSF operates strictly under investment guidelines as approved by the Retirement Benefits Authority (RBA) and that all investments undertaken by NSSF are managed by licensed investment managers and must comply with strict statutory requirements," he further said.
Despite defending the fund’s credibility, Atwoli urged NSSF leadership to respond transparently to recent audit queries.
"On that note, as COTU (K) we call upon the leadership and Board of Trustees of NSSF to publicly address the audit queries raised by the Auditor General concerning the Financial Year ending June 2024, in which the Fund has been asked to account for over Ksh16 billion," he noted.
Atwoli concluded by highlighting the safety of NSSF investments and warning Gachagua to cease making harmful statements.
"Finally, we wish to remind Mr. Gachagua that it is far better and more secure for NSSF to invest in government infrastructure than to engage in questionable dealings with individuals like him. As a point of reference, NSSF in Tanzania has successfully invested in national development projects such as the construction of government offices, the University of Dodoma, hotels, international airports, and even embassies. NSSF in Uganda has been used in the erection and distribution of power lines, while Pension funds in South Africa have also been used in building of national infrastructure like the road from Pretoria to Maputo.
> "We, therefore, call upon Mr. Gachagua to refrain from making further misleading, inflammatory, and self-serving remarks on matters that touch on the dignity, security, and well-being of Kenyan workers," he concluded.
Speaking in Mazeras on Saturday, June 7, Gachagua claimed that NSSF funds are being diverted to other projects and questionable deals.
"That NSSF money, Kasongo has planned it, he has taken that money illegally; he has taken that money supposedly to build the Mau Summit road, from Rironi. NSSF money is not for infrastructure; it’s for investments so that retirees can get their returns," he stated.
