Monday, May 27, 2024

CBK Governor Nominee Kamau Thugge Explains Source of His Sh450M Wealth

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Nominated Central Bank of Kenya (CBK) Governor Kamau Thugge has revealed he has a net worth of Sh450 million.

Speaking before a parliamentary vetting panel on Tuesday, Thugge said his source of wealth includes properties, shares, and cash equivalents.

Some of the properties include a house in Mombasa, an apartment in Westlands, a plot of land in Ridgeways, Kiambu Road, and in Thika Greens.

Kamau was appointed as the new CBK governor on May 15 by President William Ruto. He is set to replace Dr. Patrick Njoroge, whose tenure at the apex bank ends next month.

He currently serves as the senior advisor and Head of Fiscal and Budget Policy in president William Ruto’s office.

Ruto asks for Sh. 2 billion for foreign trips in budget

Kamau previously worked as the National Treasury Permanent secretary from 2013 to 2018. He was dismissed from his role in 2019 following the multi-billion Arror-Kimwarer Dam scandal.

Alongside former Treasury Cabinet Secretary Henry Rotich, the two were accused of jointly conspiring to defraud the government of Sh 17 billion in a deal to construct the two dams without approval.

The charges were later dropped by Director of Public Prosecutions Noordin Haji in 2021, making him a state witness.

If approved by the National Assembly, the former International Monetary Fund (IMF) economist will become Kenya’s 10th CBK governor.

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