Busia – Busia Governor, Sospeter Ojaamong has expressed fears that excess printing of money reminiscent of the YK 92 could be in the offing.
Speaking at Pala village in Marachi East during a meet-the-people tour, Ojaamong said the economy of the country could be headed for the dogs if a similar scenario is replicated.
“During the Moi era in 1992, excess printing of money was orchestrated by the then regime which led to the deterioration of the economy. The move to have excess supply of money in the country led to loss of jobs following closure of factories as inflation reached alarming levels. Signs that the replica of the YK 92 could be around us is beginning to take shape with Jubilee starting to woo legislators from the opposition to their side.
“I wonder where the millions of shillings being used to induce Cord MPs to Jubilee is coming from if not excess printing of money? If you have people on your side, why use money to buy them?” Ojaamong asked, and told the Abamarachi to be wary of such machinations.
Nominated MCA, Barthlet Oduma told the area residents to avoid taking money that is obtained through fraudulent means.
