The Governor of the Central Bank of Kenya (CBK) Dr. Kamau Thugge, was turned away by the National Assembly’s Committee on Cohesion and Equal Opportunities after he failed to present required documents to support his submissions.
Dr. Thugge had been summoned to respond to concerns relating to ethnic diversity and equal opportunity practices within the CBK.
The Committee, chaired by Mandera West Member of Parliament (MP) Adan Yussuf Haji halted Dr. Thugge’s session.
This was after it was determined that his responses to audit queries lacked the necessary documentary evidence, as stipulated in the Committee’s guidelines.
Haji stated that the Committee found his submission insufficient, citing the absence of evidence to support claims made in his responses.
He said the Thugge’s submission was not supported by documentary evidence, as the Committee directed in his invitation letter.
“After carefully reviewing your presentation, the Committee has established that your report lacks the required supporting documents,” said Haji.
“The invitation letter clearly stated that all submissions must be accompanied by documentary evidence. Unfortunately, this requirement has not been met.”
Other Mistakes
Haji further ruled that the submission would not be admissible and directed the Governor to revise and resubmit the documentation in compliance with parliamentary standards.
Additionally, the Committee noted that the report submitted by Dr. Thugge had not been signed.
This is another procedural oversight that further contributed to its rejection.
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Dr. Thugge acknowledged the shortcomings in his preparation and assured the Committee that he would adhere to all procedural requirements in advance of a future appearance.
A similar fate befell the CEO of the Geothermal Development Company (GDC), Paul Ngugi.
Ngugi was also turned away during the session due to inadequate preparation and a lack of supporting documentation.
CBK Governor Last Appearance in Parliament
Before this, Dr. Thugge appeared before the National Assembly’s Committee on Finance and National Planning on March 26, 2025.
He informed the Committee of CBK’s efforts to ensure that commercial banks reduce their lending rates in line with the lowered Central Bank Rate (CBR).
Thugge issued a warning to commercial banks maintaining high lending rates.
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He stated that CBK has started an onsite inspection to ensure banks reduce their lending rates.
Further, he warned that commercial banks who will fail to comply with the new rates will be penalized,
“We are conducting onsite inspections to determine if the cost of funds for banks has decreased. If it has, then we expect lending rates to follow suit,” Thugge said.
“Those found to be maintaining excessive lending rates despite lower costs of funds will face severe penalties, including fines amounting to three times their unjust gains,” he asserted.
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