Ruto’s Nomination: Kamau Thugge as CBK Governor
On Monday, May 15, President William Ruto nominated former Treasury Principal Secretary Kamau Thugge for the position of Governor of the Central Bank of Kenya.
Thugge was chosen to succeed departing Governor Patrick Njoroge.
“The Presidential nomination precedes the imminent retirement of Dr. Patrick N. Njoroge, CBS, who has served the nation with distinction as the ninth Governor of the Central Bank since June 19, 2015, and is statutorily ineligible for reappointment,” Ruto said.
If the National Assembly grants its approval, Dr. Kamau Thugge will become the tenth Governor of the Central Bank of Kenya.
The nomination is the result of a competitive recruitment process. Conducted by the Public Service Commission by Section 13 of the Central Bank of Kenya Act. Chapter 491 of the Kenyan Statutes.
President Ruto expressed confidence in Dr. Thugge. And requested that the Members of Parliament review his nomination expeditiously and within Constitutional parameters.
Part of the letter to the National Assembly stated, “The President has transmitted the nomination to the National Assembly. For consideration by the August House by the Constitution and the Central Bank of Kenya Act.”
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Thugge holds a Ph.D. in Economics from Johns Hopkins University in Maryland, United States.
From 1985 to 2010, the nominee had a long and successful career at the International Monetary Fund. Where he held the positions of Economist, Senior Economist, and Deputy Division Chief.
Dr. Thugge was a key member of the team that designed Kenya’s current fiscal decentralization system. Following the advent of devolution and the promulgation of the new constitution.
Part of the letter to the National Assembly stated, “Thereafter, he was appointed as the Principal Secretary of the National Treasury in the Fourth Administration, a position he held from 2013 to 2019.”
As a professional economist, Thugge will be responsible for managing Kenya’s financial liquidity and all cash flow-related policy issues.
“The nominee is a career economist who has held senior positions in fiscal, monetary, and economic policy positions both domestically and internationally.
Dr. Thugge is currently serving as a Senior Advisor and Head of Fiscal and Budget Policy in the Presidency. As well as a member of the President’s Economic Council, according to Ruto.
Ruto’s Nomination: Kamau Thugge as CBK Governor
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