The National Assembly’s Finance Committee has accused the Central Bank of Kenya’s Governor Patrick Njoroge of perating with impunity and further threatened not to renew his term when it ends in March.
This was brought about by a debate on a CBK regulation, which took effect in 2016, requiring anyone withdrawing or depositing more than Sh1 million ($10,000) to fill in a special form stating where the money is from or going to, who they are paying or receiving the money from and for what purpose.
Through this regulation, the MPs said, Kenyans were being harassed by banks and could not get access to their money.
The National Assembly’s Finance Committee, chaired by Joseph Limo, has summoned Dr Njoroge to appear before it tomorrow, failing which “Parliament will take action”.
“We gave the CBK a second chance to bring the regulations but he has failed … they engaged us in a cat-and-mouse game. We have issued the last invitation,” said Mr Limo.