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Why Ahmednassir wants CBK boss prosecuted

By MAUREEN KAKAH November 30th, 2016 2 min read

A monthly law publication wants the Central Bank Governor Patrick Ngugi Njoroge prosecuted for running CBK without a board of directors.

In a letter written to the Ethics & Anti-Corruption Commission Chief Executive Halakhe Waqo on Tuesday, the Nairobi Law Monthly magazine lodged a formal criminal complaint against Dr Njoroge, as soon as the President gazetted the appointment of five directors of CBK for a four year term.

The publication faulted the fact that since the appointment of Dr Njoroge last year, CBK has not constituted a board whose mandate is to formulate policy directions as per the CBK Act.

It accuses Dr Njoroge of ‘running affairs of the bank like his personal property and incurring huge capital expenditure’ without any board’s authority.

They fault him of usurping powers of the board whose only current member is its chair Mr Mohamed Nyaoga and acting in breach of the law.


They also accuse him of operating in an atmosphere where there is no oversight management.

“Our client’s complaint is that notwithstanding the lack of a lawfully constituted board of directors, the governor has been running a one-man show, he has spent, incurred expenses and created liability for the bank without due  supervision as required by law,” the firm of Ahmednasir, Abdikadir & company said.

According to the publication, Dr Njoroge must be investigated for the fight against corruption to be honest without due regard of one’s status, position, tribal or political affiliation and patronage.

“Dr Njoroge’s actions and omissions are a blatant case of abuse of office, of incurring expenditure without authority and is one where your office must fight impunity, our client seeks you intervention,” the letter read.

The Law magazine associated with lawyer Ahmednassir Abdullahi, wants EACC to investigate the budget and expenditure of CBK since the governor assumed office and also the law that grants him powers to act in the manner described.


“This case is a litmus test and the complainant herein is a resolute determined citizen. It also puts you on notice that it will do everything to ensure justice is done in the matter and that we will be vigilant,” their lawyers said.

The letter is copied to the Mr Nyaoga, the Director of Public Prosecution Keriako Tobiko and the National Treasury Cabinet Secretary Henry Rotich.

Dr Njoroge was appointed on June 19, 2015 and surprised the country after he turned down offers such as living in an expansive home in Nairobi’s Muthaiga, riding in a motorcade, a high-end smartphone, a bevy of security guards and three cars.

Instead, he opted to continue being housed in a communal accommodation in Nairobi’s Loresho estate with his fellow members of Opus Dei (Latin for “work of God”), an institution of the Catholic Church.

The institution teaches that everyone is called to holiness and that ordinary life is a path to sanctity.

During his vetting in Parliament before his appointment by President Uhuru Kenyatta, he was asked why he does not own property in Kenya and was still single at 54 yet his salary at the International Monetary Fund was Sh3 million a month, he said his lifestyle was a matter of choice.