{"id":15229,"date":"2023-05-16T04:51:19","date_gmt":"2023-05-16T04:51:19","guid":{"rendered":"https:\/\/goodmorningkenya.com\/wp\/?p=15229"},"modified":"2023-05-16T04:52:33","modified_gmt":"2023-05-16T04:52:33","slug":"hit-or-miss-ruto-nominates-former-ps-kamau-thugge-as-cbk-boss","status":"publish","type":"post","link":"https:\/\/goodmorningkenya.com\/wp\/?p=15229","title":{"rendered":"Hit or miss? Ruto nominates former Ps Kamau Thugge as CBK boss."},"content":{"rendered":"\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><em>Profile of Dr. Kamau Thugge, the CBK governor nominee<\/em><\/strong>:<\/h2>\n\n\n\n<p>\u2014<strong><em>He has been working until now as the President&#8217;s fiscal affairs and budget policy advisor<br>\u2014Has a Masters&#8217; Degree and Ph.D. in Economics both from John Hopkins University<br>\u2014Has previously worked in the Ministry of Finance as Permanent Secretary, head of the Fiscal &amp; Monetary Affairs Department, Economic Secretary &amp; Senior Economic Advisor.<br>\u2014Has also worked with the IMF as an Economist, Senior Economist &amp; Deputy Division Chief.<br>\u2014Helped work on the Public Finance Management Act, 2012 &amp; The Commission on Revenue Allocation Act, 2011.<br>\u2014Was fired from the PS on allegations of corruption which were later dropped<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The nomination of Dr Kamau Thugge, although qualified, raises the question of ethnicity over-concentration in Kenya&#39;s finance docket. The CS Treasury, Several Directors and top managers at Treasury, CBK Governor and both Chairpersons of Finance and Budget Committees at National\u2026 <a href=\"https:\/\/t.co\/TK1IO8bYF0\">pic.twitter.com\/TK1IO8bYF0<\/a><\/p>&mdash; Stephen Mutoro (@smutoro) <a href=\"https:\/\/twitter.com\/smutoro\/status\/1658207268989444113?ref_src=twsrc%5Etfw\">May 15, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>President William Ruto has nominated former Treasury Principal Secretary Kamau Thugge as Governor of the Central Bank of Kenya (CBK).<\/p>\n\n\n\n<p>This is ahead of the imminent retirement of Dr Patrick Njoroge who has been CBK governor since June 2015.<\/p>\n\n\n\n<p>According to a statement issued by Head of Public Service Felix Koskei, Dr Thugge\u2019s nomination \u201cfollowed a competitive recruitment process carried out by the Public Service Commission.\u201d<\/p>\n\n\n\n<p>The former PS is currently a senior advisor and Head of Fiscal and Budget Policy in the president\u2019s office. He is also a member of Ruto&#8217;s Economic Council.<\/p>\n\n\n\n<p>Thugge was facing corruption charges alongside former Treasury Cabinet Secretary Henry Rotich.<\/p>\n\n\n\n<p>He was accused of conspiracy to commit an economic crime, improperly conferring a benefit, abuse of office, committing an offence of financial misconduct, engaging in a project without prior planning and failing to comply with rules and regulations relating to the management of public finances.<\/p>\n\n\n\n<p>The economist was accused alongside Rotich of inflating a commercial loan for the construction of the Kimwarer and Arror dams in Kerio Valley by Ksh.17 billion.<\/p>\n\n\n\n<p>Thugge\u2019s charges were, however, dropped by the Director of Public Prosecutions Noordin Haji in 2021, and he was made a State witness against Rotich over the scandals.<\/p>\n\n\n\n<p>Prior to his appointment as Principal Secretary in 2013, he worked as a senior economic adviser in the Ministry of Finance from 2010.<\/p>\n\n\n\n<p>He also worked at the&nbsp;International Monetary Fund (IMF) from 1985 to 2010; where he served in the positions of Economist, Senior Economist, and Deputy Division Chief.<\/p>\n\n\n\n<p>Thugge holds a PhD in Economics from John Hopkins University in the USA.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Profile of Dr. Kamau Thugge, the CBK governor nominee: \u2014He has been working until now as the President&#8217;s fiscal affairs and budget policy advisor\u2014Has a Masters&#8217; Degree and Ph.D. in Economics both from John Hopkins University\u2014Has previously worked in the Ministry of Finance as Permanent Secretary, head of the Fiscal &amp; Monetary Affairs Department, Economic &hellip;<\/p>\n","protected":false},"author":6,"featured_media":15231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/15229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15229"}],"version-history":[{"count":1,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/15229\/revisions"}],"predecessor-version":[{"id":15230,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/15229\/revisions\/15230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=\/wp\/v2\/media\/15231"}],"wp:attachment":[{"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodmorningkenya.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}