For once Kenya has a responsible academic running the Central Bank of Kenya (CBK). Prof. Njuguna Ndung’u has exuded nothing but confidence in his first term in office. Given that finance is a confidence game, this has been a most welcome scenario. It is therefore weird that there are MPs out there crowing that his reappointment be reviewed. Given the country’s political temperature this seems like a
dumb misguided move. You remove Prof. Ndung’u and you might end up with someone who is down with printing money to pay for next year’s elections. I say let’s not play politics with the Central Bank.
I fully support Prof. Njuguna Ndung’u remaining as CBK governor. Just one request, echoing Jaindi over at the Daily Nation:
A piece of advice for Prof Ndung’u. You will go down as the best governor in the country’s history if you get the banks to reduce banking spreads. Commercial banks are fleecing borrowers.