President William Ruto has nominated Former Treasury Principal Secretary Dr Kamau Thugge to be the next Central Bank of Kenya (CBK) governor to replace Dr Patrick Njoroge.

In the statement by Head of Public Service Commission Felix Koskei, Ruto said he made the key nomination based on the recommendation of the Public Service Commission (PSC).

“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," the statement from Koskei read.

He is currently President Ruto’s Senior Adviser and Head of Fiscal Affairs and Budget Policy at State House, Nairobi and has been a favoured pick for the plum position of CBK boss.

Dr Thugge was kicked out of the National Treasury in 2018 over his alleged role in the scandalous building of Sh50 billion Arror and Kimwarer dams in Elgeyo Marakwet County.

Read More

  1. Kenya’s debt soars to Sh10.8 trillion as pressure on finances mounts
  2. Kenyan banks undertake to lower their interest rates in line with CBK directive
  3. I&M Bank also reduces its lending rates

However, the former PS was in 2021 cleared of any crime and turned into a state witness and he gave testimony in court against his former boss, former Treasury CS Henry Rotich.

If approved by the National Assembly, Dr Thugge will become the tenth CBK governor taking over from Dr Njoroge whose tenure ends on June 17, 2023 after serving for eight years.

A CBK governor is appointed by the president to serve a legal term of four years, which can be renewed only once, like was the case for Dr Njoroge.