Rarieda Otiende Amollo, a member of parliament, has criticized President William Ruto's Hustler Funds, asserting that the program is ripe for fraud.
The lawyer who is affiliated with Raila released a statement on his Twitter page in which he claimed that Ruto's finances were lacking in fundamentals and that the cabinet had not given their approval. He then went on to issue a warning to the Kenyan people, noting that the loans in question had not been approved by parliament as stipulated by the constitution.
According to Otiende, the laws governing Ruto's finances are not well-established, and despite assurances to the contrary, the fund's interest rates are rather high. This is despite the fact that the fund promised to have the lowest interest rates of any other loan. In addition to this, he issued a warning that the savings that are cut and kept from the loans are private and that there is no clear information on how Kenyans will access them in the future.
A portion of one of his tweets said as follows: "The Hustler Fund Is A Fraud; No Approval From Ruto Cabinet; No Approved Budget From Parliament; No Approved Laws Or Regulations; High & unlawful Interest Rates; Retained Savings In Private Pockets; unlawful Threats To Defaulters."
As of three o'clock on Saturday afternoon, the total sum that had been paid out was Ksh2,064,100,521 (up from 1.6b on Friday) The entire amount that had to be repaid was Ksh75,809,412, and a total of 6,449,726 persons had chosen to receive the money. At that point, the total number of transactions stood at 3,542,221 Transactions Per Second (TPS), which equaled 283.
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