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Late Night Incident Involving CBK Governor Patrick Njoroge Emerges Amid A Mega 2.5 Billion Deal

Details have emerged on what CBK Governor Patrick Njoroge did late at night involving a deal worth 2.5 billion shillings. He appeared to have put in extra time on October 3 when the banking watchdog responded to the executive regarding currency reserves in the middle of the night. Dr Njoroge was obligated to respond to accusations made on television by Deputy President Rigathi Gachagua that there was a lack of foreign currency. Just days before the central bank was set to break a year-long listing restriction, for instance, President William Ruto declared that he would modify the credit reference bureau mechanism to remove four million classified defaulters from blacklists.

The root cause of Patrick Njoroge's continued dismal of top government leaders was mainly brought to light when Rigathi Gachagua recently held an interview where discussed several issues ranging concerning how the new government was intending to reduce the cost of living. What caught the attention of many was Gachagua's disclosure that the Central Bank of Kenya lacked enough foreign currency (forex) to import oil from outside. Something that could cause an oil shortage crisis. However, the Central Bank of Kenya has disputed these claims saying that its reserves are adequate which helps to buffer against shocks in the forex market.

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CBK Central Bank of Kenya Njoroge Patrick Njoroge William Ruto


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