MPs give nod to Central Bank nominees

Parliament yesterday approved three nominees to the Central Bank of Kenya management, paving the way for their formal appointment by President Uhuru Kenyatta.

The lawmakers also set the agenda for the nominees — Dr Patrick Njoroge (governor), Ms Sheila M’Mbijjiwe (deputy governor) and Mr Mohammed Nyaoga (CBK board chairman). They are taking over the positions at a time when the economy is faced with a myriad challenges, including a weakening shilling, high interest rates and growing inflation.

The MPs said the officials, who are highly qualified, should deal with the weak shilling, inflation and the high interest rates charged by commercial banks on loans.

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