Kenyans given two weeks to apply for the job of Central Bank governor

NAIROBI: Kenyans eyeing the job of Central Bank Governor which fell vacant after Prof Njuguna Ndung'u retired early this month have two weeks to apply.

The Public Service Commission (PSC) Wednesday also invited Kenyans interested in the jobs of the chairperson of the Central Bank of Kenya (CBK) and the deputy governor to submit their applications by 5pm on March 24.

This becomes the first time the Government has opened up the top job at CBK's corner office to competitive recruitment process, a major departure from the past where the President handpicked candidates for the lucrative job.

To be considered for the position of Governor, one has to be a Kenyan citizen, must be a 'fit and proper person of recognised professional standing', and have a 'deep understanding of global financial sector trends.'

The PSC in the adverts which appeared in the local dailies Wednesday also said the interested persons for the CBK governor should have a bachelors and master's degree in economics, banking, finance or law.

"For appointment to the position of Governor, a person shall have over ten years' experience at senior management level in the field of economics, banking, finance, law or any other fields relevant to the functions of the Central Bank," the advert reads in part. The candidate must also be a 'person of integrity and meet chapter six of the constitution of Kenya.'

Successful applicants will have a four year term, renewable for a similar period. PSC has, however, locked out politicians, salaried employees of public entities except on a secondment basis from applying for the three jobs. Also disqualified from applying are directors, officers, employees, partners in or shareholders of banks or financial institutions.

PARLIAMENT VETTING

It is still unclear if the person appointed will again be required to go through parliament for vetting in line with the current law after government decided to use the PSC route.

In an earlier interview with this writer, the chairman of Parliament's Finance, Planning and Trade Committee, Mr Benjamin Langat said his committee will only be involved if the name is forwarded to the house through the speaker.

An amendment to the CBK ACT in 2012 allowed the president to appoint a Governor but "through a transparent and competitive process and with the approval of Parliament."

"The president follows the law and we expect him to do so this time. When our time comes to participate, we will do so in accordance with the law," Langat had said on phone.

The current chairman is Dr Mbui Wagacha who is serving in an acting capacity since February, 2013. He was elected by members of CBK board following legislative changes to the Central Bank of Kenya Act.

ADVERTISE POSITION

The move to advertise the position of the deputy governor seven months before his term comes to an end is a signal that the PSC expects the current deputy governor Dr Haron Sirma to apply for the governor’s job and is preparing to get his replacement should he be named to the job.

Dr Sirma was appointed Deputy Governor on October 24, 2011. He holds a PhD Degree (Entrepreneurship) from Kenyatta University. His four-year term ends in October.

Prof Ndung'u quietly exited the corner office at CBK having outmaneuvered the Anti-Corruption agency from dragging him to court while still the CEO of the bank over the irregular award of a Sh1.2 billion security system tender.