President William Ruto has appointed former Treasury Principal Secretary Kamau Thugge as the new Central Bank of Kenya (CBK) Governor.
Thugge takes over from Patrick Njoroge who has been governor for eight years.
In a gazette notice seen by the Star, Ruto said his appointment is effective June 19.
"I, William Samoei Ruto, President of the Republic of Kenya and Commander-in-Chief of the Defence Forces appoint Kamau Thugge (DR.) to be the Governor of the Central Bank of Kenya, for a period of four(4) years, with effect from the 19th June 2023," the gazette notice reads.
Thugge now becomes Kenya's 10th CBK governor.
His appointment follows a report that was submitted to the president after vetting by the National Assembly.
The Finance and National Planning Committee recommended the National Assembly approves the nomination of Thugge as the next CBK governor.
Thugge who appeared before the committee said his net worth is Sh450 million.
"It comprises properties, shares and cash equivalents," he said.
Thugge was nominated by President William Ruto on May 15.
"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," a notice of motion dated June 6 read.
