President Uhuru Kenyatta has nominated Dr Patrick Ngugi Njoroge as the next Central Bank of Kenya (CBK) governor.
If approved by parliament, Ngugi will take over from Prof Njuguna Ndung’u whose term ended in April.
The President also nominated lawyer Mohammed Nyaoga for chairman, current Deputy Governor, Haron Sirima, and former member of the Monetary Policy Committee (MPC) Sheila M’Mbijiwe as deputies.
The three nominees will now have to await vetting by Parliament before being formally appointed by the Head of State, The Business Daily reports.
According to The Standard, the Speaker of the National Assembly Justin Muturi is expected to read the names on the floor of the House today when Parliament holds a special sitting to discuss the mediation report on Division of Revenue Bill, 2015.
The Tuesday nominations come against the backdrop of a crisis in the Kenyan shilling, which as been doing poorly against the US dollar.
Today the Dollar is at 96.87 STG, Pound is 148.88 and Euro is 108.46
— Central Bank Kenya (@CbkKenya) June 3, 2015
The Standard reports that the Central Bank of Kenya will hold a policy meeting on June 9, where it is expected that the shilling’s slide against the dollar will be addressed.
