Ruto Nominates Kamau Thugge As CBK Governor

As the term of Dr. Patrick Njoroge, the current Governor of the Central Bank of Kenya (CBK) comes to an end, President William Ruto has nominated his replacement, former Treasury Principal Secretary Kamau Thugge.

Dr. Patrick Njoroge is set to exit on June 17, 2023, after serving two terms under President Uhuru Kenyatta.

“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 Mr Koskei stated.

Dr. Thugge is currently the senior adviser and Head of Fiscal Affairs and Budget Policy at the State House, making a comeback after being thrown out of the National Treasury under a cloud of corruption charges.

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Kamau 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. It was alleged that he took part in swindling at least 17 billion shillings. He was cleared of any wrongdoing in 2021.

Kamau Thugge will become the tenth Governor of the Central Bank 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.

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The former Treasury PS was among six candidates shortlisted for the position of Public Service Commission (PSC). Others shortlisted for the position were; Adan Abdalla, Nancy Onyango, Edward Sambili, Haron Sirima, and Dorcas Mutonyi.