‘I’m worth Ksh450M’ – CBK Governor nominee Kamau Thugge reveals

Tuesday, May 30th, 2023 14:12 | By
'I'm worth Ksh450M' - CBK Governor nominee Kamau Thugge reveals
CBK nominee Kamau Thugge. PHOTO/Courtesy

Kamau Thugge, the Central Bank of Kenya (CBK) Governor nominee, has revealed that he is worth Ksh450 million.

Appearing before the National Assembly's Finance and National Planning Committee on Tuesday, May 30, Thugge said his wealth consists of an apartment in Westlands, a house in Mombasa, a plot of land in Ridgeways estate on Kiambu Road and another parcel in Thika Greens as well as company shares and cash equivalents.

President William Ruto nominated the former Treasury Principal Secretary for appointment as the tent governor of CBK on May 15, 2023.

He was among six candidates shortlisted for the position by the Public Service Commission (CBK).

If approved by the National Assembly, Thugge will succeed Patrick Njoroge, who is expected to exit office in mid-June after eight years at the helm of CBK.

"The presidential nomination comes ahead of the imminent retirement of Patrick Njoroge who has served the nation with distinction as the ninth Governor of the Central Bank from June 19, 2015, and who is statutorily ineligible for reappointment. Should Kamau receive seal of approval of the National Assembly, he will be the 10th Governor of the Central Bank of Kenya," a communique from State House read in part.

Thugge is poised to return to the public service after four years in the cold.

Thugge was hounded out of office as Treasury PS after being linked to a multi-billion Arror and Kimwarer dams scandal in 2019. He was, however, cleared of any wrongdoing in 2021.

Responding to questions regarding the graft allegations levelled against him, Thugge told the MPs he was wrongly accused.

“I was wrongly accused, that is why the DPP freed me of all the charges and I turned state witness. I am still a state witness and I follow the law as required," he said.

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