Economy

Deputy CBK boss to work past the retirement age of 60

sheila

Central Bank of Kenya (CBK) deputy governor Sheila M’Mbijjewe. FILE PHOTO | NMG

Central Bank of Kenya (CBK) deputy governor Sheila M’Mbijjewe will work beyond the official retirement age of 60 years, keeping her in office until June next year.

It was expected that Ms M’Mbijjewe who attained the mandatory retirement age of 60 years in March 6, would exit office in line with the law that requires civil servants to exit office after attaining that age.

But CBK governor Patrick Njoroge said on Tuesday that her tenure will be guided by her contract, and not age.

Ms M’Mbijjewe, a UK-trained accountant, has been the deputy governor of CBK since August 4, 2015 under a four-year term, renewable once.

“I will just ask you to go check the gazette notice of 2015 number 4, 532,” Dr Njoroge said Tuesday in reference to her deputy’s term.

The notice was issued by President Uhuru Kenyatta and appointed Mrs M’Mbijjewe for a four-year term starting 19 June, 2015.

The CBK governor and the deputy serve for a four-year term renewable once. But civil servants are mandated by law to exit office after attaining the age of 60.

“Retirement age is 60 in public service. However, one can work on contract with approval of the board and cabinet secretary after 60 if they have specialised scarce skills,” former Public Service Commission (PSC) chairperson Margaret Kobia said in February last year.

READ: Deputy central bank boss attains retirement age

A long-serving corporate executive, Ms M’Mbijjewe has in decades-long career served as a director in a number of blue chip companies in the country.

President Kenyatta is expected to fill a number of positions in key State agencies, whose heads are either serving in acting capacity or nearing expiry of their terms upon attaining the mandatory retirement age of 60 years.

The list includes the Kenya Revenue Authority (KRA), where commissioner-general John Njiraini’s second term as chief tax collector came to an end on March 3 – three months after he hit the retirement age of 60 last December.

Mr Njiraini is embroiled in a court battle with activist Okiya Omtatah over his continued stay at the helm of the tax agency.