House committee nods to CBK Governor nominee Kamau Thugge

By , K24 Digital
On Wed, 7 Jun, 2023 08:53 | < 1 min read
Kamau Thugge
Kamau Thugge. PHOTO/Courtesy

The National Assembly's Finance and National Planning Committee has recommended to the House to approve the Central Bank of Kenya (CBK) Governor nominee Kamau Thugge for the position.

Thuge, nominated by President William Ruto on May 15, is set to take over from the current Governor Patrick Njoroge who retires in a fortnight.

"Having considered the suitability, capacity and integrity of the nominee, and pursuant to sections 13(1) and 13C of the Central Bank Act, sections 3 and 8 of the Public Appointments (Parliamentary Approval) Act (No. 33 of 2011), and Standing Order 216(5) (f) of the National Assembly Standing Orders, the Departmental Committee of Finance and National Planning recommends that the National Assembly approves the nomination of Dr Kamau Thugge, CBS as Governor of the Central Bank of Kenya," the committee said in a statement.

Thugge is poised to become Kenya's 10th CBK governor if approved by Parliament.

He was shortlisted for the job alongside Dorcas Mutonyi, Haron Sirima, Edward Sambili, Nancy Onyango and Adan Mohamed. 

Thugge's previous jobs

Thugge previously worked at the Ministry of Finance as the Director of Fiscal and Monetary Affairs between 2005 and 2008.

He rose through the ranks to become the Principal Secretary in the Ministry of Finance.

He was hounded out of office as Treasury PS after being linked to a multi-billion Arror and Kimwarer dams scandal in 2019. He was, however, cleared of any wrongdoing in 2021.

Appearing before the National Assembly's Finance and National Planning Committee on Tuesday, May 30, Thugge revealed that he is worth Ksh450 million.

Thugge said his wealth consists of an apartment in Westlands, a house in Mombasa, a plot of land in Ridgeways estate on Kiambu Road and another parcel in Thika Greens as well as company shares and cash equivalents.

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