“You Directed Managers to Buy KPC Shares at a Loss” Nyoro Accuses Ruto of Misusing Public Money

People’s Party of Kenya (PPK) leader Ndindi Nyoro has accused President William Ruto of interfering in investment decisions involving public pension funds and Kenya Pipeline Company (KPC) shares. He has called for greater accountability in the management of workers’ retirement savings.

Speaking during a public rally in Gilgil, Nakuru County, Nyoro alleged that the President directed chief executives of state backed retirement funds, including the National Social Security Fund (NSSF), to invest in KPC shares before later instructing them to sell their holdings.

Nyoro claimed that the transactions resulted in losses amounting to KSh 27.5 billion for Kenyan workers’ retirement savings. He also alleged that private investors benefited from the transactions, although the claims were not independently verified in the material provided.

“You ordered the CEOs of NSSF and CPF to invest workers’ retirement money in Kenya Pipeline, and then you created chaos. You instructed them to hold those shares for eight months, then called them again to sell them. The troubling part is this: among those who bought, you are one of them. Kenyan workers have lost 27.5 billion shillings since selling those Kenya Pipeline shares,” Nyoro said.

The lawmaker criticised what he described as the use of public office to influence commercial transactions. He argued that decisions involving workers’ retirement funds should be guided by the interests of contributors and handled transparently.

Nyoro also called on President Ruto to focus on his constitutional responsibilities, saying the government should prioritise protecting citizens’ interests rather than becoming involved in business dealings that could expose public funds to financial risks.

“Stop acting as a broker and stop using business schemes to oppress Kenyans. Your job is to defend Kenyans, not to defraud them through commercial deals,” Nyoro added.

The allegations have raised questions about investment decisions involving pension funds and the sale of shares in state linked companies. Such transactions can have significant implications for workers whose retirement savings are invested in financial markets.

Nyoro also addressed the political situation ahead of the 2027 General Election, claiming that opposition leaders were working towards presenting a joint presidential candidate and running mate to challenge the current administration.

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