Publication wants Njoroge prosecuted for running CBK without a board

What you need to know:

The magazine wrote to the Ethics and Anti-Corruption Commission Chief Executive Halakhe Waqo (EACC) on Tuesday, on the day President Uhuru Kenyatta gazetted the appointment of five CBK directors for a four-year term.
The publication claims Dr Njoroge has been acting in breach of the law and has usurped the powers of the board, whose only member has been the chairman, Mr Mohamed Nyaoga.
“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,” Ahmednasir, Abdikadir & Company, representing the publication, said.

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

The Nairobi Law Monthly, a magazine associated with lawyer Ahmednassir Abdullahi, has lodged a formal criminal complaint against Dr Njoroge through a letter to the anti-corruption commission.

The magazine wrote to the Ethics and Anti-Corruption Commission Chief Executive Halakhe Waqo (EACC) on Tuesday, on the day President Uhuru Kenyatta gazetted the appointment of five CBK directors for a four-year term.

The publication faults the fact that a CBK board had not been constituted since the appointment of Dr Njoroge last year, noting that the board's 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.

The publication claims Dr Njoroge has been acting in breach of the law and has usurped the powers of the board, whose only member has been the chairman, Mr Mohamed Nyaoga.

It also accuses 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,” Ahmednasir, Abdikadir & Company, representing the publication, said.

Honest anti-corruption fight

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

“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 wants the EACC to investigate CBK's budget and expenditure since the governor assumed office, as well as the law that grants him powers to act in the manner thus 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,” the publication's lawyers said.

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