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CBK boss Njoroge bows to MPs' demand

Adonijah Nziwa
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Central Bank (CBK) Governor Patrick Njoroge at a past function [Source/Central Bank of Kenya/Facebook]

Central Bank (CBK) Governor Patrick Njoroge has agreed to publish banking regulations following pressure from Members of Parliament. 

 MPs had threatened to remove Njoroge from office before he bowed to pressure.

The governor was reluctant to publish the information because they are likely to tamper with the operations of the bank.

The lawmakers are interested in knowing the regulations on withdrawal and deposits made by customers.

 The governor is worried that the revelation will fuel money laundering and financing of terror related activities across the nation in the coming years. 

Njoroge is expected to appear before House Committee on Implementation on Tuesday to shed more light on the same. 

“We are in the process of implementing section 65 of Finance Act, 2018 and are currently consulting the committee,” he said as quoted by Daily Nation.

Njoroge also said that he is not in a position to appear before the committee because he wants to consult over the same. 

He has asked the lawmakers to give him two weeks so that can consult various stakeholders over the same. 

The Implementation committee chaired by Narok North MP Moitalel ole Kenta has continued to raise concern over the concealing information by the bank.

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