RUTO’s man, FERDINAND WAITITU, explains how he accumulated a wealth of Sh 1.9 billion – This is unbelievable!

 

Tuesday, July 26, 2022 – Former Kiambu County Governor, Ferdinand Waititu, has come out to explain how he accumulated a wealth of Sh 1.9 billion.

Already the Ethics and Anti-Corruption Commission (EACC) has moved to court seeking an order for the freezing of Waititu’s bank accounts, claiming his wealth is proceeds of crime.

However, in his defense, Waititu who was impeached as Governor of Kiambu County in 2020, urged the court not to freeze his accounts since he didn’t get rich when he became the governor of the populous county.

According to Waititu, after four years as an accountant in the Ministry of Finance in 1990, he purchased his first lorry and began distributing building materials with his wife.

The politician who resigned in 1993 had ten lorries in 1998 and received contracts with Nairobi City Council (now Nairobi County) worth millions of shillings till 2011.

Waititu said that he registered multiple companies between 1999 and 2011 to buy additional properties, including Dosoil Enterprises, Ndung’u Waititu Ltd, Bulk Refuse Removal, Bins Management Ltd, and Saika Two Estate Developers.

“In 2011, we purchased 22 acres, which we then subdivided into 311 parcels and sold. Waititu added, “Before I was elected MP for Kabete, I owned gas stations, hardware and beauty businesses, landed properties, and multiple fleets of transportation vehicles.”

He said he then built two gas stations at Njiru retail center and Kayole Junction, while his wife opened a wholesale hardware and beauty supply store.

Waititu claims that while acting as governor of Kiambu, he and his wife continued to run their companies, which generated about Sh300 million each month.