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CBK nominees now await appointment by Uhuru

Dr Njoroge was vetted by the National Assembly Finance, Planning and Trade committee. Photo/ FILE

Dr Njoroge was vetted by the National Assembly Finance, Planning and Trade committee. Photo/ FILE

NAIROBI, Kenya Jun 19 – The National Assembly has approved the nomination of the Dr Patrick Ngugi Njoroge and Mohammed Nyaoga to the posts of Central Bank of Kenya Governor and Board Chairperson respectively.

MPs unanimously approved the report by the National Assembly’s Committee on Finance which found them suitable for office.

National Assembly Finance, Planning and Trade committee chairman Benjamin Langat said Dr Njoroge exhibited impressive knowledge of issues touching on monetary policy and has the experience to serve as CBK governor.

He however explained that Dr Njoroge will have to create a good working rapport with his team as he is not conversant with the Kenyan environment.

“The nominee is open-minded, independent and exhibited impressive knowledge of topical issues touching on monetary policy and has the requisite abilities qualifications and experience to serve as CBK. However, he may not be conversant with Kenya working environment considering he has been working abroad for almost his entire life” said Langat.

“He will therefore have to create a good working rapport with his team and the stakeholders to help him govern.”

The MPs defended themselves against media reports that the House team wasted an opportunity to set economic agenda for the county during the vetting of the leadership of the CBK.

MPs Langat and Jimmy Angwenyi took offence to the report that they were more concerned with why the Adviser to the IMF Deputy Managing Director is still single at 54.

“I read in the papers that my committee shunned policy issues for personal questions, in fact the paper went ahead to say my members were clueless, that we didn’t know what we were doing. I want to set the record straight, if the media house sent a clueless journalist to my committee then they must take responsibility.”

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“We dealt with the serious issues of inflation, interest rates, employment and exchange rates and many other issues related to the monetary policy issues. I have a lot of qualified and knowledgeable members,” Langat said.

“Mr Speaker, we interviewed these three Kenyans for over six hours and we asked proper and appropriate questions. At one time, I used to believe as a former public finance lecturer I am the best finance resource person in this country on that day they demonstrated they are better than me,” said Angwenyi who during the sitting offered the CBK nominee a colleague’s sister as a wife.

The House team has recommended that Nyaoga relinquishes some positions he holds in various financial institutions to avoid conflict of interest and give him enough time to concentrate on the demanding job.

MPs noted Sheila M’mbijiwe who had been recommended for post of Deputy Governor is qualified and has abilities and experience to serve in the position.

Following the National Assembly approval of the three nominees they will be formally appointed by the President before taking office to serve for a four years term.

Nyaoga is a seasoned lawyer, who is also heading the Commission of Inquiry probing a petition to dissolve the Makueni County Government, while M’Mbijiwe is a former member of the Monetary Policy Committee.

Dr Njoroge replaces outgoing Governor Njuguna Ndung’u who left the post in March after serving a maximum two four-year terms.

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