William Ruto Stuns Kenyans With Revelation KSh 50b Idling At CBK: "Ni Juzi Tulikuwa Na Empty Coffers"

• President William Ruto revealed that the government has KSh 50 billion lying idle at the Central Bank of Kenya (CBK)
• Ruto urged county governors to use the money for economic developments that will upscale the government's tax collection
• The pronouncements sparked mixed reactions among Kenyans, with some questioning the president's statement

President William Ruto has sparked debate among Kenyans after claiming that the country has KSh 50 billion lying idle.

Ruto urged the county governments to utilise the money allocated by the national government on development projects.

County government revenue allocation

Speaking during the Africa Climate Summit 2023 on Tuesday, September 5, the head of state revealed that the money is idling at the Central Bank of Kenya (CBK).

"There is KSh 50 billion lying at the Central Bank. I request you spend this money in rolling out your development programmes.

If you spend it, we will have many economic opportunities for Kenyan. This is good for our economy and makes me also collect more tax," said Ruto.

Ruto promised the county governors more revenue allocations for economic developments.

Reactions from Kenyans

Most Kenyans shared mixed reactions to the president's pronouncement, some saying it is a good direction for counties while others remembering government remarks of a dilapidated economy.

@Kabogo_Henry replied;

"Counties are crying they have not been paid..unless this is a different Kenya."

@Lagoh_ asked;

The Kenyan broke CBK or which one?"

@kuimashaah cried out;

"Na bado anaongeza tax."

@Toruk_Makto8 said;

"Hold my tongue! After the pain I felt seeing my payslip and yet we have idle money."

@PAULmai19370169 wondered;

"Wueh! While businesses are closing, high cost of living, high education fees, very high but wait I got KSh 50 billion lying idle.

OchiengJasper noted;

"We no longer have dilapidated coffers."

@HillaryMutai_ said;

"Bwana. Coffers zilikuwa empty juzi."

Ruto clears county revenue allocation

In June 2023, the president revealed that he cleared all county revenue allocations for the financial year 2022/2023.

Ruto said he did not want to start the new year 2023/2024 with pending bills tying down the National Treasury in debts.

This came as deputy president Rigathi Gachagua engaged county governors to support the government's push to increase tax revenue through the Finance Act 2023.