Reason enough for MPs to send the CBK boss home

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The parliament and Executive are breathing fire after the Central Bank of Kenya Governor Dr Patrick Njoroge has left them feeling undermined authority wise.

The National Assembly committee on implementation is expecting him to explain why he has not published the Banking regulations required to implement the Banking Act as MPs consider his removal.

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The MPs say that his failure to publish the banking regulations, which prescribes customer deposits and withdrawals as provided for in the Banking Act as amended in August last year through Finance Act, is in contempt of Parliament. This, the legislators say, is a reason enough to send the CBK boss home.

The committee chaired by Narok North MP Moitalel ole Kenta wants the CBK boss, who was appointed in June 2015 for a renewable term of four years, to explain why he has ignored the provisions of the Finance Act.

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The Act passed in August last year mandates the CBK boss to publish the regulations and submit them to the National Assembly within 30 days of its coming into force for consideration in line with the Statutory Instruments Act.

Anyway six days down the line,Dr Njoroge is yet to comply with the law.

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