The Board of Directors of Consolidated Bank of Kenya Limited has formally approved and cleared Dominic Murage to serve as the Acting Chief Executive Officer.
In a notice on February 20, the board stated that his appointment followed the requisite regulatory vetting process by the Central Bank of Kenya.
“The Board of Directors of Consolidated Bank of Kenya Limited is pleased to announce the appointment of Dr. Dominic Murage, PhD, CPA (K), CS (K) as the Acting Chief Executive Officer, effective 12th October 2025. Following his appointment, the requisite regulatory vetting process was undertaken by the Central Bank of Kenya, culminating in formal approval and clearance,” read part of the notice.
The appointment of Murage as Acting Chief Executive Officer took effect on October 12, 2025.
Further, the Board expressed confidence in Murage’s ability to steer the bank through its next phase of growth, noting that his experience in both public and private sectors positions him to strengthen partnerships, enhance operational efficiency, and advance the bank’s strategic priorities.
“The Board assures Dr. Murage of its unwavering support as he leads the Bank into its next phase of transformation and sustained success,” read part of the notice.
Dominic Murage Career and Education
Murage is a finance professional and strategic leader with over 20 years of experience spanning management, taxation, public finance, policy analysis, consultancy, corporate governance, research, and training.
He has served in both public and private sector institutions, building an extensive professional network across key government and private sector agencies.
He holds a Doctor of Philosophy (PhD) in Business Administration (Finance) and a Master of Business Administration (MBA) in Accounting from the University of Nairobi.
Dominic is a Certified Public Accountant of Kenya (CPA-K) and a Certified Secretary (CS-K) and is a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
Also Read: NTSA Appoints Nashon Kondiwa as the New Director General
Mbadi Ouster of Consolidated Bank of Kenya Leadership
In November 2025, Cabinet Secretary for Treasury John Mbadi ousted Consolidated Bank’s CEO and most of its board.
The move triggered a regulatory clash and a court battle after appointing an acting chief executive without prior Central Bank of Kenya (CBK) clearance required by law.
The leadership shake-up came after the board moved to renew former CEO Sam Muturi’s contract from October 11.
It argued that the lender posted its first profit in 15 years in the first half of the year, recording KSh12 million.
Also Read: KeNHA Appoints Luka Kipchumba Kimeli as New Director General
However, Mbadi rejected the proposed renewal, dismissed three directors on October 3, and on October 8 advised the appointment of Dominic Murage Njeru as Acting CEO.
Muturi decided to file a petition for reinstatement or Ksh76 million in compensation, arguing that the Cabinet Secretary lacks the authority to override the board on the appointment of a chief executive.
Additionally, CBK objected to the proposed appointment, noting that Njeru, who had exited Mbeere North parliamentary by-election race, had not undergone the mandatory “fit and proper” assessment.
The regulator maintained that no senior officer could assume office without prior clearance and also raised concerns over the renewed term of director Jane Njogu.
Follow our WhatsApp Channel and X Account for real-time news updates.
