President William Ruto on Monday, May 15, nominated former Treasury Principal Secretary Kamau Thugge as Governor of the Central Bank of Kenya.
Thugge was nominated to replace outgoing Governor Patrick Njoroge
"The Presidential nomination comes ahead of the imminent retirement of Dr. Patrick N. Njoroge, CBS who has served the nation with distinction as the ninth Governor of the Central Bank from 19th June 2015 and who is statutorily ineligible for reappointment," Ruto stated.
Should Dr. Kamau Thugge receive the seal of approval of the National Assembly, he will be the tenth Governor of the Central Bank of Kenya.
The nomination follows a competitive recruitment process carried out by the Public Service Commission pursuant to the provisions of Section 13 of the Central Bank of Kenya Act, Chapter 491 of the Laws of Kenya.
President Ruto expressed confidence in Dr Thugge and asked the Members of Parliament to consider his nomination as soon as possible and within the provisions of Constitutional limits.
"The President has transmitted the nomination to the National Assembly for consideration by the August House in fulfillment of the legal requirements set out under the Constitution and the Central Bank of Kenya Act," read part of the letter to the National Assembly.
Thugge is a holder of a Doctoral Degree in Economics from John Hopkins University in Maryland, USA.
The nominee also had a long and successful career at the International Monetary Fund from 1985 to 2010; where he served in the positions of Economist, Senior Economist, and Deputy Division Chief.
"At the promulgation of the new constitution, Dr. Thugge was a key cog of the team that designed Kenya's current fiscal decentralization system following the advent of devolution.
"Thereafter, he was appointed as the Principal Secretary in the National Treasury in the Fourth Administration, a position in which he served with from 2013 to 2019," read part of the letter to the National Assembly.
As a career Economist, Thugge will be tasked with the responsibility of managing Kenya's financial liquidity and all policy issues relating to cash flow.
"The nominee is a career economist who has served in senior positions within fiscal, monetary, and economic policy-making positions both locally and abroad.
"Dr. Thugge is currently serving the nation as a Senior Advisor and Head of Fiscal and Budget Policy within the Presidency; in addition to serving as a Member of the President's Economic Council," Ruto stated.
Public Service Commission (PSC), on Wednesday, May 2, shortlisted candidates including Kamau Thugge for the position of Central Bank of Kenya (CBK) Governor.
The Public Service Commission also stated that IMF Director for Audit Nancy Asiko Onyango, Dorcas Muthoni Mutonyi, Haron Sirima, Edward Sambili, Nancy Onyango, and Adan Abdulla Mohamed had been shortlisted and lined up for interviews.
In January 2021, the Director of Public Prosecutions Noordin Haji withdrew charges against Thugge and made him a State witness against former Treasury Cabinet Secretary Henry Rotich over the Kimwarer and Arror dam scams.
