Ruto nominates Kamau Thugge for CBK Governor job
Former Treasury Principal Secretary-Dr Kamau Thugge.
President William Ruto has nominated the Head of Fiscal Affairs in the Council of Economic Advisors and former Treasury Principal Secretary, Dr Kamau Thugge, for appointment as the tenth Governor of the Central Bank of Kenya (CBK).
"President William Ruto, has, on the recommendation of the Public Service Commission, nominated Dr Kamau Thugge for appointment as the Governor of the Central Bank of Kenya," a statement Monday signed by Head of Public Service Commission Felix Koskei reads.
Dr Thugge was amongst six candidates shortlisted by the Public Service Commission.
His recommendation comes on the back of the sunset days of Dr Patrick Njoroge who is expected to exit office mid-June 2023 following eight years at the apex bank.
Dr Thugge was forced out of his position at the National Treasury over his alleged role in the multibillion-shilling Kimwarer and Arror dams' construction in Elgeyo Marakwet.
Dr Thugge was cleared of any wrongdoing in 2021.
The new CBK governor will be the tenth boss of the banking regulator which was established by an Act of Parliament of March 24, 1966, and started operations on September 14, 1966.
Past CBK governors include Leon Baranski, Duncan Ndegwa, Philip Ndegwa, Eric Kotut, Micah Cheserem, Nahashon Nyagah, Andrew Mullei and Njuguna Ndung'u. Dr Njoroge’s successor will be appointed for a term of four years, renewable once, subject to performance.
