The National Assembly has approved the appointment of Pius Ang'asa as a board member of the Central Bank of Kenya (CBK).
Ang'asa was nominated last month by President William Ruto, per Section 11 of the Central Bank of Kenya Act, and was awaiting approval from both the National Assembly and the Senate.
His confirmation comes after a vetting process conducted by the Joint Committee of the National Assembly’s Departmental Committee on Finance and National Planning, alongside the Senate Standing Committee on Finance and Budget.
The CBK Board of Directors is primarily tasked with formulating policy for the bank and evaluating its overall performance.
It also ensures the CBK operates within the law and maintains high standards of corporate governance and accountability.
In addition, the board is responsible for appointing key executive roles within the bank, including the governor, while also providing oversight over the institution’s functions and upholding sound corporate governance.
Furthermore, it regularly reviews the bank's performance and ensures its operations align with national financial goals and the CBK’s mandate.
The CBK Board consists of 11 members, including the chairperson, the governor, the principal secretary to the National Treasury, and eight non-executive directors appointed by the president.
In November last year, President Ruto made another leadership change at the Central Bank of Kenya, with Parliament also approving his appointment of Gerald Nyaoma Arita as Deputy Governor. This followed his nomination and subsequent vetting process.
Nyaoma's approval was endorsed after the National Assembly Finance Committee Chairperson, Kuria Kimani, moved a special motion on behalf of the joint Parliamentary Committee of the Senate and National Assembly, which had recommended him for the role after concluding interviews.
Throughout his career, Nyaoma has steadily risen through the ranks at CBK, gaining extensive experience and institutional knowledge that positioned him for the Deputy Governor role.
He now serves as the second Deputy Governor of the Central Bank of Kenya, having officially assumed office after being selected from a shortlist of six candidates submitted by the Public Service Commission.
