CBK Board Chairman Mohammed Nyaoga, Governor Patrick Njoroge and Deputy Governor Sheila M'Mbijjewe were all appointed on June 19, 2015 for four years. The four-year term will end on June 18, which is just about three weeks away. However, the fact that their contracts are all ending around the same time does not augur well for an institution so crucial in regulating the banking sector. While Dr Njoroge looks set for a second term, there has been scrutiny as the governor came in the crosshairs of MPs. The lawmakers accused him of contempt of parliamentary authority and imposing his own “regulations” on the banking sector, which they claimed had stifled liquidity in the economy.

Source: Daily Nation May 26, 2019 04:52 UTC