Treasury CS Removes Uhuru’s Brother-in-Law from Retirement Benefits Authority
On Friday, May 19, President William Ruto, through Cabinet Secretary Njuguna Ndung’u, revoked the appointment of Victor Pratt, the former president’s brother-in-law.
In a statement, the CS also revoked Reuben Ndegwa’s appointment while reorganizing the Policyholders Compensation Fund Board of Directors.
In place of Pratt, the CS appointed Simon Mbugua as the new chairperson.
Mbugua is a former member of the East Africa Legislative Assembly (EALA) and a close ally of President Ruto.
Treasury CS Removes Uhuru’s Brother-in-Law from Retirement Benefits Authority
Mbugua defeated Charles Njagua Kanyi in the United Democratic Alliance (UDA) primaries but lost to Amos Mwago of Jubilee in the Starehe parliamentary election.
In addition, Njuguna appointed Tiberious Shikuku to the Policyholders Compensation Fund for a three-year term beginning on Friday, May 19, 2023.
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“In exercise of the powers conferred by section 179 (4) (a) of the Insurance Act, as read together with section 51 (1) of the Interpretation and General Provisions Act, the Cabinet Secretary for the National Treasury and Economic Planning appoints the aforementioned as members of the Board of Directors of the Policyholders Compensation Fund, for three (3) years,” read a portion of the statement.
Pratt, a Liberian native, and nephew of William Tubman, is married to Uhuru’s sister Christine Wambui Kenyatta.
He served as the chairman of the Retirement Benefits Authority (RBA) for six years before being appointed to head the Policyholders Compensation Fund.
The fund’s responsibilities include compensating claimants of an insurer placed under Statutory Management. And boosting public confidence in the insurance industry.
It also compensates insurers placed under statutory management or whose license has been revoked. Monitors the risk profile of any insurer in consultation with the Commissioner when necessary. And liquidates an insurer if a court so orders.
Other responsibilities include advising the Cabinet Secretary. Responsible for financial matters on national policy and compensation issues about policyholders and implementing all government policies.
Treasury CS Removes Uhuru’s Brother-in-Law from Retirement Benefits Authority
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