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Treasury ready to release CDF allocations – Business Daily

The National Treasury building in Nairobi. FILE PHOTO | NMG
The Treasury will release Sh2 billion every week for National Government Constituency Development Fund (NG-CDF) subject to approval by the Attorney General.
Leader of Majority Kinani Ichung’wah said the Treasury is waiting for a legal opinion from the Attorney General on the implications of the Supreme Court ruling that declared the NG-CDF unconstitutional.
The Treasury told MPs that it is willing to release Sh2 billion weekly starting November 21, should the legal advice clear the payments.
Cabinet secretary Njuguna Ndung’u said the Treasury could not disburse the Sh44.3 billion allocated to the NG-CDF due to challenges in transition to the new government, delayed disbursements from the International Monetary Fund, huge pending bills, fuel subsidy and the Russian invasion of Ukraine.
Mr Ichung’wah issued a brief to MPs who last week threatened to paralyse House business if the Treasury fails to release the NG-CDF.
The lawmakers had threatened to block all government business including approval of President William Ruto nominees for Principal Secretary positions.
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Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.