Speaking during a Citizen TV's interview on Sunday evening, the deputy president Rigathi Gachagua claimed that Kenya's financial state is dire that there were no reserves to import oil from other nations.
However, the Central Bank of Kenya (CBK) through a statement issued yesterday refuted the deputy president's claims and revealed that foreign exchange cover remains adequate at $7,424M as per data obtained on 29th September 2022.
The Central Bank of Kenya further revealed that oil importers in Kenya obtain their requisite foreign exchange from the commercial banks and not the CBK.
Renown Kenyan lawyer Ahmednasir Abdullahi who is a close ally to the president William Ruto has in turn made another claim regarding the foreign exchange reserves.
Through a post made on his official Twitter account today, Ahmednasir alleged that there are 4 cabinet secretaires who hoard hundreds of millions in dollars at their homes and added that the recovery of these reserves would lead to appreciation of the Kenyan shilling. Here is Ahmednasir's full tweet;
"Kenya's 2nd largest dollar reserve after Central Bank of Kenya is held/kept by Govt employees in their homes...imagine the hundreds of millions in dollars the 4 CS dollar Billionaires hoard in their homes...recovery of this loot will lead to a rapid appreciation of the shilling."
As per yesterday, 1 US Dollar traded at 120.25 Kenya Shillings.
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