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Stop using social media to respond to Gachagua - Cherargei tells state agencies

"There are better channels to communicate on government issues."

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by SHARON MWENDE

News03 October 2022 - 14:36
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In Summary


  • •"There are better channels to communicate on government issues and it's about respect to the office," Cherargei added.
  • •In a statement on Sunday, CBK dismissed claims by Gachagua that there was a shortage of forex in the bank, owing to state capture.
Nandi Senator Samson Cherargei

Nandi County senator Samson Cherargei has said state agencies and officers should learn to respond to the Executive using respectable channels.

In an apparent swipe at the Central Bank of Kenya, Cherargei said it was "bad manners" to respond to Deputy President Rigathi Gachagua through a presser or social media.

"To all state agencies and officers, stop responding to our DP Gachagua through social media and pressers," he said.

"There are better channels to communicate on government issues and it's about respect to the office."

In a statement on Sunday, CBK dismissed claims by Gachagua that there was a shortage of forex in the bank, owing to state capture.

"We have insufficient foreign exchange and the Central Bank does not have enough foreign currency for importing fuel," Gachagua said in a Sunday interview with Citizen TV.

Gachagua had also claimed that leaders had taken charge of the CBK rising the exchange rate.

He said this had affected oil importers and in extension led to high fuel prices.

In response, CBK pointed out that it was not involved in foreign exchange.

"First, following the complete liberalization of the foreign exchange market in the 1990s, all foreign exchange for private transactions is obtained from commercial banks," the statement read.

It added:

"CBK does not supply foreign exchange for transactions other than for the National Government or CBK's operations. Oil importers, therefore, obtain their requisite foreign exchange from the commercial banks and not CBK."

CBK further said it had enough usable foreign exchange reserves, as per their calculation on September 29.

The reserves stood at t $7,424 million which is Sh896,151.04. It translates to 4.19 months worth of imports.

"The Central Bank of Kenya Act (Section 26) requires that CBK at all times use its best endeavours to maintain a reserve of external assets at an aggregate amount of not less than the value of four months’ imports as recorded and averaged for the last three preceding year.’ This stood at 4.64 months of imports as of September 26, 2022."

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