The Central Bank Governor
The lawmakers have again summoned Mr Njoroge and want the Central Bank to scrap the rules that require persons transacting more than Ksh one million to declare the source of funds, the intended use and the recipient.
CBK governor was expected to publish the amended law within 30 days from the first day of October 2018. In his
During a session with members of parliament, Dr. Njoroge said, “The adverse effects of the amendment of the banking sector would be immediate termination of relationships by foreign correspondent banks and closure of accounts of Kenyan banks.“
Some legislators claimed that the governor’s failure to implement the law was contempt of parliament and threatened to remove the CBK boss from his position.