NAIROBI, Kenya Aug 17 – President William Ruto has nominated lawyer Andrew Musangi to be the next Central Bank of Kenya Chairperson.
The announcement was made on Thursday by National Assembly Speaker Moses Wetangula who has now forwarded his name to the Finance Committee for vetting.
Wetangula has directed the House Departmental Committee on Finance to conduct an approval hearing and submit its report when MPs resume from the short recess.
Once approved, Musangi will replace Mohammed Nyaoga who exited the position after completing his second tenure in office in June.
The Board of Directors provides oversight of the Bank’s functions by formulating policies, other than the formulation of monetary policy, and reviewing performance.
The Board comprises eleven members: the Chairman, the Governor, the Permanent Secretary to the National Treasury and eight non-executive directors appointed by the President.