Who is protecting the corrupt CBK governor Ndung'u?

[jakaswanga]

Who is protecting the corrupt CBK governor Prof. Njuguna Ndung’u? there is something rotten at the heart of our judiciary! please spare the usual whipping dog, the Kenya Police Force! ---They are not the worst LOOTENANTS in town!

Keriako Tobiko and the other anti-corruption body have all the facts to nail the thief, but courts come in to say NO, YOU WILL NOT PROSECUTE!

HEE HEE HEE! That is pure protection of pure corruption! A judiciary aint gonna get more rotten than barring the prosecution of a certified thief! a certain conviction!

This is why George Kegoro's musingson the judiciary requires a second deep reading. You will find the link somewhere here below.

www.nation.co.ke/news/Central-Bank-boss-gets-court-orders-barring-arrest--/-/1056/2207330/-/hkvbt2/-/index.html

FRIDAY, FEBRUARY 14, 2014 -Central Bank boss gets court orders barring arrest

CBK governor Njuguna Ndung’u has obtained a court order barring his arrest and prosecution pending determination of a case challenging alleged corruption offences against him.

--The Ethics and Anti-Corruption Commission in response, claimed it had received a report detailing how Prof Ndung’u flouted procurement procedures in the tender award.

--The ethics commission said the governor held discussions and irregularly directed awarding of the tender to Horsebridge Network Systems East Africa.

By Nation Correspondent

Central Bank Governor Njuguna Ndung’u has obtained temporary orders barring his arrest.
Mr Justice David -Pajamas-(rofl)Majanja Friday granted the orders stopping Prof Ndung’u’s arrest over any alleged corruption offences following a directive from the Director of Public Prosecutions that he be charged with irregularly awarding a Sh1.2 billion tender to install a security system at CBK.

The judge directed that the case would be given a hearing date on March 12 by Lady Justice Mumbi Ngugi.
The Ethics and Anti-Corruption Commission in response, claimed it had received a report detailing how Prof Ndung’u flouted procurement procedures in the tender award.
The ethics commission said the governor held discussions and irregularly directed awarding of the tender to Horsebridge Network Systems East Africa.
“Investigations established that Prof Ndung’u failed to comply with the law and attempted to confer a benefit from Horsebridge by directing that the contract be given to the said bidder notwithstanding the termination,” said Mr Alex Kinyanjui, an EACC investigator.
EACC claims Prof Ndung’u flouted procurement procedures in relation to delivery, installation, testing and commissioning of the security system contract award.

Nobody wanted to challenge in court, just how firm those established facts are??? No, the trial is banned beforehand! ---Guilty as charged!

www.nation.co.ke/oped/Opinion/Director-of-Public-Prosecutions-Keriako-Tobiko-Njuguna-Ndung-u/-/440808/2245682/-/sw62ja/-/index.html

By George Kegoro

Unusual legal proceedings are underway in the High Court, in which the Director of Public Prosecutions seeks to reclaim his right to prosecute the Governor of the Central Bank Njuguna Ndung’u.


Keriako Tobiko, DPP, fighting to regain relevance. Somebody froze his powers to prosecute high class thieves, whose files are slum dunk! But who!? who stole his thunder!? Mayie yawa Kenyawa!

The Ethics and Anti-Corruption Commission had brought criminal charges against Mr Ndung’u for allegedly irregularly awarding a tender valued at Sh1.2 billion. However, Mr Ndung’u obtained orders from the High Court preventing his arrest until he had had the chance to question the basis for the intended prosecution. (READ: I have enough evidence to nail CBK Governor, Tobiko says)

6

Prof. Njuguna Ndung’u.

His continual staying in office makes laughable, the whinings of Uhuruto in public that they are serious on tackling corruption at all levels.

This is the guy whose cluelessness was captured in the famous DN cartoon: shirringi shirringi, priiz ngro! Priiz don’t wilt on me! I beseech you on my knees! There was praise for him too, linked somewhere here below! ...But ..

Being evidently technically challenged, he now obviously is morally challenged too, in that he can not see the honourable thing to do is to resign ---the Prosecutor has enough evidence to nail him, instead of dragging the credibility of the institute he heads, the all important CBK, to the gutter.

When ordinary cheap criminals protected by powerful political connections head your central bank in all impunity, one has reason to doubt the financial health of his nation. A thief taking care of my money? I know the >:Ddeal. So do you. And importantly, so do those institutions that loan Kenya money. They must factor in the reputation of the CBK and its head. Just out of prudence. Since a fool and his money are said to be very quickly separated. If Kenyans are foolproof enough to trust Njuguna Ndung’u types with their money, that is well and good, but something tells me the Chinese and the IMF will introduce clauses to compensate his reputation.

So, watch the fine print in our international loan agreements.

www.nation.co.ke/news/Njuguna-Ndungu-Keriako-Tobiko-Prosecution-Central-Bank-Tender/-/1056/2241694/-/rbqu0fz/-/index.htmlPrint

WEDNESDAY, MARCH 12, 2014
I have enough evidence to nail CBK Governor Njuguna Ndung’u, Keriako Tobiko says

Central Bank of Kenya Governor Njuguna Ndung'u on January 31, 2012 at County Hall. PHOTO | JENNIFER MUIRURI | FILE NATION MEDIA G
In Summary
• Prof Ndung’u last month obtained court orders stopping his arrest and prosecution

By NATION REPORTER

Director of Public Prosecution Keriako Tobiko wants to be allowed to prosecute Central Bank Governor Njuguna Ndung’u over irregular award of Sh1.2 billion tender for installation of security surveillance systems.
Through senior prosecution counsel Daniel Karuri, Mr Tobiko said that the governor’s petition challenging his prosecution was ill-conceived since he will have a chance to defend himself before the trial court. (READ: Court allows firm to sue CBK over tender award)
The allegations against Prof Ndung’u were a matter of fact and that his office decided to bring criminal charges after being satisfied with the evidence from the Ethics and Anti-Corruption Commission, he adds.
“The DPP was satisfied based on the evidence that Prof Ndung’u had improperly and unlawfully conferred a benefit worth Sh1.2 billion to Horsebridge Networks Limited,” Mr Karuri said.
Prof Ndung’u last month obtained court orders stopping his arrest and prosecution over failure to follow the correct procedures in awarding Sh1.2 billon tender to Horesebridge Networks Ltd for installation of security surveillance systems at CBK. (READ: CBK governor survives arrest order, resumes work)

And
CBK governor in akerekeke.
www.nation.co.ke/news/Court-allows-firm-to-sue-CBK-over-tender-award/-/1056/2230636/-/13ctlj6/-/index.html

A High Court judge has granted Horsebridge Network Systems orders to compel the Central Bank of Kenya to pay them Sh121m for the security tender award which EACC is investigating.
Justice Weldon Korir directed Horsebridge Network Systems East Africa Limited to sue CBK for the payment failure in a bid conclude negotiations agreement regarding the tender award.
Horsebridge, the company which allegedly CBK governor Njuguna Ndung’u was accused of holding discussions and giving directions that it gets the tender award, alleges that CBK has declined to pay them Sh 121,900,398.
According to Horsebridge, CBK is withholding the payment since the Ethics and Anti-Corruption Commission is still investigating the tender award.

Another judge orders that the irregularly awarded tender, whose evidence exists and has satisfied the DPP it is worth an arrest and prosecution of the wheelers and dealers therein, be honoured! --even as other legal fireworks elsewhere go on, with Tobiko hot to RECLAIM his prosecutorial powers frozen by the likes of Pajamas Majanja?

Come on Willy Mutunga! this is a scam and you know it!

Justice Majanja to the rescue! The thief is above the law!
www.nation.co.ke/business/Njuguna-Ndungu-Central-Bank-of-Kenya/-/996/2210556/-/vrqrioz/-/index.html

NDAY, FEBRUARY 17, 2014
CBK governor Njuguna Ndung’u survives arrest order and reports back to work


In Summary
• On Friday last week, Justice David Majanja halted Prof Ndung’u’s arrest over charges of abuse of office pending a hearing that has been set for March 12
• This claim is only the latest controversy to chip away at the governor’s image since he assumed his post having survived several attempts to unseat him


By MUTHOKI MUMO

Prof Njuguna Ndung’u resumed his duties at the Central Bank on Monday following a decision by the High Court last week to halt his arrest on allegations of corruption in a procurement deal.
Speaking to the Daily Nation over the phone on Monday, Central Bank of Kenya (CBK) media relations officer, Ms Nancy Sang, said the governor had reported to office on Monday.
“He is in office today,” she said.
On Friday last week, Justice David Majanja halted Prof Ndung’u’s arrest over charges of abuse of office pending a hearing that has been set for March 12. (READ: Central Bank boss gets court orders barring arrest)

www.nation.co.ke/business/Ndungu-defends-himself-in-Sh1bn-corruption-claim-/-/996/2202850/-/ih7qgqz/-/index.html

TUESDAY, FEBRUARY 11, 2014
Ndung’u defends himself in Sh1bn corruption claim

In an email sent to senior CBK staff, Prof Ndung’u said the contract award was above board and appeared to accuse the institution’s tender committee of sabotage by rooting for losing bidders.


By Nation Reporter

Central Bank of Kenya governor Njuguna Ndung’u has defended himself against allegations of corruption in a Sh1.2 billion tender to install a modern security system at the institution.
In an email sent to senior CBK staff, Prof Ndung’u said the contract award was above board and appeared to accuse the institution’s tender committee of sabotage by rooting for losing bidders.
He said the crux of the matter was a tussle pitting CBK’s tender team against the evaluation committee.
Prof Ndung’u said Horsebridge Networks Systems East Africa Limited—which won the tender—was the lowest evaluated bidder and that he would not seek to reverse the decision.

He has not been all doom and gloom however. Once upon a time … if we believe this standard reporter is not a blurb writer, Prof. Njuguna Ndung’u was a genius at CBK!
www.standardmedia.co.ke/business/article/2000088720/kenyans-reaping-from-key-monetary-reforms-under-professor-njuguna-ndung-u-at-central-bank-of-kenya?pageNo=1

Along the way, however, the effective discharge of this mandate was slowed by challenges that were not foreseen. First, post –election disruptions in early 2008 derailed the economy from its high growth trajectory that had been recorded since 2003. Secondly, the subprime mortgage in the US, the euro crises in the Euro zone and the MENA (Middle East & North Africa) political crisis, precipitated economic shocks that negatively affected the economy. Nevertheless, the Bank rapidly mobilized the tools of monetary policy to ensure that neither the post-election problems nor the international financial problems became embedded in the Kenyan economy. The effectiveness of the monetary policy actions has also been improved through regular review of the monetary policy framework to facilitate transmission efficiency and reduce transmission lags. By scaling up financial inclusion, deepening the financial and bond markets, the initiatives to improve the transmission of monetary policy impulses has borne fruit. Financial sector reforms Kenya can boast of having a dynamic financial sector that has grown notably in the last decade. The key reason for this growth has been a commitment to financial sector reforms by the Government, through its Economic Recovery Strategy (ERS), 2003 – 2007 and the current economic blue print, Kenya Vision 2030; and various financial sector initiatives aimed at enhancing the sector’s growth and development. Central Bank of Kenya, in line with its financial sector mandates, under these reforms, has been in the fore front in pushing for more affordable financial services to Kenyans while maintaining the stability, efficiency and integrity of the financial system.
Read more at: www.standardmedia.co.ke/business/article/2000088720/kenyans-reaping-from-key-monetary-reforms-under-professor-njuguna-ndung-u-at-central-bank-of-kenya?pageNo=1

May be we did not just appreciate him enough, and he decided to organise a bonus for himself for his star services to the nation, and thus a massive kick-back operation!
Hallo Tobiko! You know what they pay top bankers at wall street!? Chill man! Ndung’u picked just a bit of shallow pocket! One can not roast a banker for that! ---we would roast all the breed!
Here is 2013 when the bull-fighter Bonny Khalwale wanted Ndung’u sacked. The Grand Ol Notes Scam! www.standardmedia.co.ke/?articleID=2000090118

Updated Saturday, August 3rd 2013 at 00:00 GMT +3 0
Central Bank of Kenya staff walk away with millions in old notes scandal

Others also read this Muturi warns committee bosses on delayed statements Parliament should get more actively involved in national probes Kenya in middle-income league, but are we really better off? Half of Kenyans still poor, says report Equity Bank to launch telecoms platform in May By

MWANIKI MUNUHE, KENYA:

Rogue employees of the Central Bank of Kenya are believed to have stolen hundreds of millions of shillings in currency notes earmarked for destruction. This follows the discovery of major lapses in security procedures thought to be part of a well-planned conspiracy that has been at work for years. Sources say top officials at the supreme watchdog of financial transactions in the country, have no way of knowing how much was lost in the secret robberies.

CBK officials who spoke to The Standard on Saturday described a scam that seems right out of a Hollywood movie. Executed in secret, the racket appears to have involved individuals working in at least five different sections of the bank. Each part of the gang involved in the heist manages different stages of the crime, cooperating to ensure the untraceable loot leaves the bank safely. Investigations by a foreign consultant unearthed the existence of the aged notes pipeline this year and have led to several staffers being demoted. No criminal charges have been brought against anyone, with our sources saying the bank was keen to avoid the bad publicity a prosecution would attract.

Controversial contract

The conspirators are suspected to have stolen millions at a time in ‘old and damaged notes’ earmarked for destruction. With the process repeated every few months and the money stolen being virtually untraceable, they are thought to have raked in hundreds of millions, possibly billions. Credible sources at the bank warn that the security failures that made the crimes possible have yet to be fixed and more money could easily be stolen. When asked about the losses, Assistant Commissioner of Police George Kinoti, who is also the assistant director of security services at CBK countrywide, said the matter was “settled”.
Read more at: www.standardmedia.co.ke/?articleID=2000090019&story_title=cbk-staff-walk-away-with-millions-in-old-notes-scandal

That is your central Bank for you.

Do not mention the police I beg. They only take ksh. 200!

[jakaswanga]

Central Bank Governor Njuguna Ndung’u has obtained temporary orders barring his arrest.
Mr Justice David -Pajamas-(rofl)Majanja Friday granted the orders stopping Prof Ndung’u’s arrest over any alleged corruption offences following a directive from the Director of Public Prosecutions that he be charged with irregularly awarding a Sh1.2 billion tender to install a security system at CBK.

The judge directed that the case would be given a hearing date on March 12 by Lady Justice Mumbi Ngugi.
The Ethics and Anti-Corruption Commission in response, claimed it had received a report detailing how Prof Ndung’u flouted procurement procedures in the tender award.

Read more: jukwaa.proboards.com/post/new/9002#ixzz2zp3AHc9C

PAJAMAS MAJANJA AND HIS SLEEPY RULINGS save the ass of Njuguna Ndung’u.

Why do I call His Judicial Excellency Mjanja? Why do I dub this most famous Judge of the High Court Pajamas?

Pajamas, pronounced Payama as in Jesus pronounced Yesu, is a very revealing piece of dressing. Some, like Otishotish, of course sleep naked, because that is best suited to their primary nocturnal activity, specifically night-running. This is form of wizardry is called jwog apitipiti.
[I must hasten to add, that I am aware Otishotish is a self-confessed abstainer from his missus, but prefers, not unlike many men, to keep the housemaid on her back rather than her toes, and when he is minded to mind her back, he keeps her on her knees, and optionally on all fours, scrubbing the floor of course.

Pajamas can also be done away with for those still with a spark of passion between them, in anticipation of ones partner demanding their conjugal rights in the course of the night in bed.

Pajamas, even if unsightly, even if more like a heroic feat in poor-clad competitions, do accurately reveal the figure underneath. Whether it is the rounded figure of corruption, the protruding horns of temptation, the wilting eyes of trust, the fading lights of dedication, the irreparable shrinkage of tired tissues, or the dashed hopes of yesterday, the pajama does a very half-hearted job at concealment.

You look at a pajama, all you view is nakedness.

When I look at Justice Majanja, all I see is Justice in Pajamas, and she is that ravaged justice which comes from the law which is an ass.

So Majanja is an ass in Pajamas.

That is not yet an insult, since, trust me, an ass in pajamas can be quite a sight. A dick-thickening outrage for one; and for two, an ass in pajamas can also be the most comical sight you ever saw in your life.

I am undecided whether corruption is an irresistible beauty queen like Hellen of Troy, or a grotesque like the monster of Dr. Frankenstein.
Is there really proof, that a nation can not take off when it is in the clutches of corruption? Can not move ;)on when pajama-wearing Justices like Majanja invariably practice the law which is an ass?

One of these days, Justice2 could come to demand Majanja’s butt, and it will just be as well he is already clad in an easy to remove pajama, which already reveals his rotten core.

Better his ass than his head. That is, his ass can be had, but he still makes it to CJ after Mutunga.

Otherwise we all know there too is a justice which takes a man’s head off! I gather apart from the law sometimes being an ass, she has is a double which is of the jungle.

No!? you never heard of the latter?

Do not worry, listen an Igbo proverb: unless the stick dies young, it shall one day surely taste the bearded meat. So, Unless Kenya learns from her past, she will one day surely make the acquaintance of the law of the jungle.

And I will be back!

---With an insight as to whether some pajamas should be worn with pants or not!

Any opinions, Otishotish?

[OtishOtish]

Jakaswanga:

The very basis of this whole thread is confused and misguided, and you are making matters worse by dragging me in. Let us look at the basic facts:

Central Bank Governor Njuguna Ndung’u has obtained temporary orders barring his arrest.
Mr Justice David -Pajamas-(rofl)Majanja Friday granted the orders stopping Prof Ndung’u’s arrest over any alleged corruption offences following a directive from the Director of Public Prosecutions that he be charged with irregularly awarding a Sh1.2 billion tender to install a security system at CBK.

Wrong boat + wrong lake = no fish + possible drowning.  Let me explain:

There are people who own Kenya. And they can and will flout and flout and then flout some more. Anything and everything. Those people need to have their money washed and stored safely before being sent to Switzerland. Somebody has to oversee all that. What's more, there are always contingencies that require the utmost attention from the very top. Consider, for the example, the unexpected business of having to manufacture bank records for the ICC. Small minds see it as a straightforward matter: outsource to River Road, and that's that. Yes, the work will get done on River  Road, but oversight at the highest levels is still required: the people who actually dig the ditch never have the chief engineer's "big picture" vision. 

Think about this:  Has ... how should we refer to him in Latin, to match his legal wizardry (which dazzled ICC judges, even though the later claimed that he was slippery and full of it)? Maybe amicus + consobrinus will do?   ... Has amicus consobrinus had much to say on this matter? Think about that.

As far as I can tell, you, the DPP, the EACC, and the Majanja fellow are not just making noises that are far beyond your pay-scales; you are also engaged in impermissible daydreaming. Some advice ... How do they put it in Kenya? Ah, yes, accept and move on.  And if you can't or won't, then the other side of the coin is mta do?

Focus on things on things you (and your DPP, EACC, and judge buddies) can manage and are permitted to think about---such as "who will be called his excellency? and "who can fly the Kenyan flag?. This here is not one of those cases where an arrest must be avoided merely because it will cause embarrassment. Even merely thinking of an arrest is taking things too far.   Take note, my friend: if you grab a snake's tail without bothering to see where the head is, it is inevitable that you will get a nasty bite.

Now, here you are just being plain cheeky and hypocritical:

Some, like Otishotish, of course sleep naked, because that is best suited to their primary nocturnal activity, specifically night-running. This is form of wizardry is called jwog apitipiti.

Are you going to deny that this was you, appealing to the government for state recognition?:

www.the-star.co.ke/news/article-131987/why-night-runners-are-seeking-state-recognition

And while thinking of a story to explain that, also answer this: Running for exercise is all well and good. And no doubt there is a certain freedom in doing it unclothed and feeling the wind ... being one with nature or something, I suppose. But what's with the kicking of doors and the throwing of stones on mabati roofs?

This too shows grave misunderstanding:

[I must hasten to add, that I am aware Otishotish is a self-confessed abstainer from his missus.

As a happily married man, I do not require nasty animal activities in order to express and receive love. To the extent that I must, it is because archaic divorce laws in my country have a clause about "refusal or failure to discharge conjugal obligations". I respect the law, so on the anniversary dates of my wedding, I always discharge.

Any opinions, Otishotish?

As above. Now, please forget Governor Njuguna's pajamas, return from the Ukraine, and do a Digital on South Sudan. People there are finishing each other in ways that prove some people missed about 10,000 years of evolution.

[jakaswanga]

First, let us treat this second Judge [Justice Weldon Korir] as a priority. Here it is.

www.nation.co.ke/news/Central-Bank-boss-gets-court-orders-barring-arrest--/-/1056/2207330/-/hkvbt2/-/index.html

The ethics commission said the governor held discussions and irregularly directed awarding of the tender to Horsebridge Network Systems East Africa.

“Investigations established that Prof Ndung’u failed to comply with the law and attempted to confer a benefit from Horsebridge by directing that the contract be given to the said bidder notwithstanding the termination,” said Mr Alex Kinyanjui, an EACC investigator.
EACC claims Prof Ndung’u flouted procurement procedures in relation to delivery, installation, testing and commissioning of the security system contract award.

Read more: jukwaa.proboards.com/thread/9002/who-protecting-corrupt-governor-ndungu#ixzz2zugaTIaT

In the light of the statement INVESTIGATIONS ESTABLISHED, there is ground for a man to have his day in court. Note that has since NOT sued the Daily Nation for character assassination!

Investigations have thus established Prof Ndung’u is corrupt, a pick pocket magnified to the power of a Central Bank.

It is also, therefore, no brainer to deduce that the award of the tender to Horsebridge Network Systems should be nullified, but at the very least, frozen, given the satisfaction of of both the DPP and and EACC that there indeed was criminal foul play. And Horsbridge whatever investigated. May be Ndung’u is not corrupt, but he was forcefully corrupted! –coerced!

But here is Justice Weldon Korir

A High Court judge has granted Horsebridge Network Systems orders to compel the Central Bank of Kenya to pay them Sh121m for the security tender award which EACC is investigating.
Justice Weldon Korir directed Horsebridge Network Systems East Africa Limited to sue CBK for the payment failure in a bid conclude negotiations agreement regarding the tender award.

Read more: jukwaa.proboards.com/thread/9002/who-protecting-corrupt-governor-ndungu#ixzz2zuigYgcN

Justice Korir orders payment, without declaring the evidence (the DPP and the EACC have certifying the deal corrupt), insufficient in proof of actual violation!

Ha! Otishotish! I have reason to believe you are a respected, respectable, and a self-respecting member of the legal universe, and, to boot, are a law-abiding citizen. I also know, that you are a bit of manamba like me, and so you like to take a peak through the clothes of Justice, to judge how much fat the Lady Justitia has amassed in the wrong places. So, my learned friend, before I declare you an accomplice to a judicial plot to cover up looting at the Central Bank, read me some high powered legal philosophy, that sustains the logical framework of Weldon Korir’s judgement.

Later ---you see I have institutional memory of real excellence! I plan to tell you where I come from. I am sorry I do not have the luxury of these Moi-bred 8-4-4 graduants of your fraternity, who hailed their lecturer Prof. AMICUS CONSOBRUNUS Githu Muigai on his return from the ICC, as, in his double role as Amicus Curiae cum Uhuru Kenyatta’s private attorney masquerading as Kenya’s AG, having shown the Hague-based court some legal fireworks which dwarf what heights Miguna Miguna would have rendered visible, had Oraro complied with Karoli Omondi’s directive to sue the Big Mig over illicit maizena powder.

Later later, stay tuned!

NB: I will return to the subject of night-running later. You sprung a surprise on me there. But you should remember at the death of my father, we, his sons, divided among ourselves in equal head count, all his earthly nightly possessions which, in the main, consisted of plenty women still at an age-set middle-aged men like me consider fair game and thus can dubiously use tradition to underwrite the mpango wa kando business and override the protestations of their official partners. So I am telling you running such a mpango wa kando business leaves no time for the Olympian sport of night-running, with its side pleasures of kicking doors, throwing stones on mabati roofs, opening sheep and goat pens to let the livestock roam, and scaring the lights out of those who may want to urinate at night, against the fence of euphorbia trees!

All pretty harmless stuff really. So I do not understand this strange hullaballo from the local chiefs, that night-running is equivalent to terrorism! ---Jesus, another msako to flush out wizards! and burn them like in the dark ages?

Apr 24, 2014 21:24:09 GMT 3 OtishOtish said:

Jakaswanga:

The very basis of this whole thread is confused and misguided, and you are making matters worse by dragging me in. Let us look at the basic facts:

Central Bank Governor Njuguna Ndung’u has obtained temporary orders barring his arrest.
Mr Justice David -Pajamas-(rofl)Majanja Friday granted the orders stopping Prof Ndung’u’s arrest over any alleged corruption offences following a directive from the Director of Public Prosecutions that he be charged with irregularly awarding a Sh1.2 billion tender to install a security system at CBK.

Wrong boat + wrong lake = no fish + possible drowning.  Let me explain:

There are people who own Kenya. And they can and will flout and flout and then flout some more. Anything and everything. Those people need to have their money washed and stored safely before being sent to Switzerland. Somebody has to oversee all that. What's more, there are always contingencies that require the utmost attention from the very top. Consider, for the example, the unexpected business of having to manufacture bank records for the ICC. Small minds see it as a straightforward matter: outsource to River Road, and that's that. Yes, the work will get done on River  Road, but oversight at the highest levels is still required: the people who actually dig the ditch never have the chief engineer's "big picture" vision. 

Think about this:  Has ... how should we refer to him in Latin, to match his legal wizardry (which dazzled ICC judges, even though the later claimed that he was slippery and full of it)? Maybe amicus + consobrinus will do?   ... Has amicus consobrinus had much to say on this matter? Think about that.

As far as I can tell, you, the DPP, the EACC, and the Majanja fellow are not just making noises that are far beyond your pay-scales; you are also engaged in impermissible daydreaming. Some advice ... How do they put it in Kenya? Ah, yes, accept and move on.  And if you can't or won't, then the other side of the coin is mta do?

Focus on things on things you (and your DPP, EACC, and judge buddies) can manage and are permitted to think about---such as "who will be called his excellency? and "who can fly the Kenyan flag?. This here is not one of those cases where an arrest must be avoided merely because it will cause embarrassment. Even merely thinking of an arrest is taking things too far.   Take note, my friend: if you grab a snake's tail without bothering to see where the head is, it is inevitable that you will get a nasty bite.

Now, here you are just being plain cheeky and hypocritical:

Some, like Otishotish, of course sleep naked, because that is best suited to their primary nocturnal activity, specifically night-running. This is form of wizardry is called jwog apitipiti.

Are you going to deny that this was you, appealing to the government for state recognition?:

www.the-star.co.ke/news/article-131987/why-night-runners-are-seeking-state-recognition

And while thinking of a story to explain that, also answer this: Running for exercise is all well and good. And no doubt there is a certain freedom in doing it unclothed and feeling the wind ... being one with nature or something, I suppose. But what's with the kicking of doors and the throwing of stones on mabati roofs?

This too shows grave misunderstanding:

[I must hasten to add, that I am aware Otishotish is a self-confessed abstainer from his missus.

As a happily married man, I do not require nasty animal activities in order to express and receive love. To the extent that I must, it is because archaic divorce laws in my country have a clause about "refusal or failure to discharge conjugal obligations". I respect the law, so on the anniversary dates of my wedding, I always discharge.

Any opinions, Otishotish?

As above. Now, please forget Governor Njuguna's pajamas, return from the Ukraine, and do a Digital on South Sudan. People there are finishing each other in ways that prove some people missed about 10,000 years of evolution.

[jakaswanga]

www.nation.co.ke/news/politics/CBK-Governor-Njuguna-Ndungu-arrest-Majanja-Lenaola-Mumbi-Ngugi/-/1064/2304204/-/h5mpdpz/-/index.html

I said it before, I am not impressed by these goons in gowns. Take a look at his Highness Justice David Majanja --the one whose judgments I call pajamas. He may have read law, may be even under the great Ogendo, but no amount of pajamas or suits will cover stench:
Take a look: www.nation.co.ke/news/Graft-team-protests-over-CBK-boss-case/-/1056/2289582/-/dc1e8d/-/index.html

By SAMUEL SIRINGI The Ethics and Anti-Corruption Commission has protested the way in which a hearing in February around its intended prosecution of Central Bank governor Njuguna Ndung’u was moved at the last minute from one judge to another.

The anti-graft body wrote soon after to Chief Justice Willy Mutunga questioning why the file for an application by Prof Ndung’u seeking to stop his arrest and prosecution for abuse of office was withdrawn from Lady Justice Mumbi Ngugi and handed to Mr Justice David Majanja without explanation.

Dr Mutunga explained that the matter had been moved to a different judge through a an error by a court clerk.

That is your chief Justice talking! --I am too old to take this kind of Sh!t from anybody.
The Kenyan Chief Justice is obviously talking through his Arz. And that is just about where his brains are, up his intestines. yes, indeed, the case moved from Mumbi to Majanja through the error of court clerk. Can happen, we are humans!

But then TODAY 05-05-14: www.nation.co.ke/news/politics/CBK-Governor-Njuguna-Ndungu-arrest-Majanja-Lenaola-Mumbi-Ngugi/-/1064/2304204/-/h5mpdpz/-/index.html

Three judges have disqualified themselves from hearing a petition filed by Central Bank Governor Njuguna Ndung'u challenging an order by the DPP to have him arrested and prosecuted.
(READ: DPP, graft team seeking Ndung’u’s arrest)
Justice David Majanja was the first to recuse himself.

The judge had earlier given an order stopping the Director of Public Prosecution Keriako Tobiko from prosecuting the CBK Governor until the petition he lodged in objection is heard and determined.
The file was then pushed to Lady Justice Mumbi Ngugi who had given a date for hearing of the petition as May 14.
KNOWN PERSONAL

OH YEA! Your Justices! some of us had multiple dealings with the judicial system under KANU-Moi, and we script proof, so we read clean these Pele or Maradona --[or is it Messi nowdays]-- subterfuges first take,and from afar!
Bob Marley sang something about fooling all the people all the time .. that even God Almighty does not do a very good job at it! ---let alone Willy Mutunga and his roguish band of scamming JSC Judges! ---recall-'Justice' Warsame who disbanded the vetting commission, having been appointed by Willy just a few days to his appearance before it; and 'Justice' Ibrahim the 'Camel' who carried cases around courts for a decade, then cleared them all in one night to make a promotion! [description camel courtesy of the Law Society of Kenya!]

DN: The abrupt switch, the Nation has established, angered the EACC, which wrote a protest letter to the Chief Justice.
“We wish to register with you our dissatisfaction with how the matter was handled on February 14, 2014,” the commission wrote in a letter dated March 3.

And here is your Mjanja David Majanja doing his pajamas act.

“As per the online version of the cause list, the matter was listed before Lady Justice Ngugi,” the EACC argued in its letter to Dr Mutunga. “However, on reaching the court, our representative was informed by the advocate for the petitioner that the matter was before Mr Justice Majanja.”

According to the documents, Mr Justice Majanja issued conservatory orders pending the hearing and determination of the “petition without hearing the parties”. He then directed that the matter be mentioned before Justice Ngugi on March 12.

Oh, what are conservatory orders!? Otishotish, help me out with these learned phrases from your fraternity! You wont tell? Sawa, others are telling me here below

“The practice as we know it is that the judge who certifies a matter urgent becomes seized of it unless of course he/she is not in court,” the EACC protest letter said. “That the cause list was changed removing the matter from Lady Justice Ngugi to Justice Majanja is suspect.

Suspect! that is a sanitized word. Clinically said: that is CORRUPT! ---hAAA, the clerk of the Judge!?

On March 14, the EACC again wrote to Dr Mutunga, acknowledging his letter and two others from the said judges. In the letter, the commission questioned an explanation given by Dr Mutunga and sought further clarification after it was informed that the case had been switched “mistakenly”.

“It is not clear to us how the matter was mistakenly listed before Justice Ngugi,” the EACC said in Mr Waqo’s letter.

He said the matter had been properly before Lady Justice Ngugi. “Whereas we will allow the matter to rest, you may need to establish the mistake the clerk had in mind,” it said.

We know, but we will wait for the explanation from the Chief Justice and compare notes! This time hope he would have removed his head from his colon!

MAJANJA, LENAOLA, AND MUMBI ALL RECUSS THEMSELVES!

www.nation.co.ke/news/politics/CBK-Governor-Njuguna-Ndungu-arrest-Majanja-Lenaola-Mumbi-Ngugi/-/1064/2304204/-/h5mpdpz/-/index.html

On Monday, Lady Justice Mumbi Ngugi also disqualified herself saying she was uncomfortable with the concerns raised in the application that Prof Ndung'u filed on May 2 and pushed the file to a third judge.

The judge also vacated the date she had set for hearing and ordered the file be placed before Justice Isaac Lenaola for further direction.

When the file went before Justice Lenaola he also disqualified himself saying he knows Prof Ndungu "personally" and hearing the case may be prejudicial.

the CJ to appoint a new Judge for this case?! how about he join his suspect friends in the bench of the recussed

if he does not do it voluntarily ... I should call a no cure no pay hand to help me out!

[OtishOtish]

Jakaswanga:

What is my name doing here again? I have already explained: This is the Big League. You, Tobiko, and the EACC types cannot even be ball-boys in a game at this level.

The judges are quite right to recuse themselves, one by one until there is no judge who to hear the case. A very novel approach, I admit, but that has nothing to do with anything. As for the court clerks, I've always been very impressed with Kenyan ones: when appropriately and sufficiently "inspired", they can even find files that have been lost for years.  You need to stop looking at, say, the ICC, where requests for recusal require very good and verifiable reasons---not "I am uncomfortable"---and it is not unusual for those asking to be told to can the nonsense and get back to work. (In some places if you get paid, you do the work; for comfort, you wait until you get home, after 5PM.)  What we have here is an African Problem, and it appears that an African Solution is being found. 

I don't know why you have suddenly decided to attack the Very Hon. Justices Warsame and Ibrahim, two pillars of law in The Great, Independent, & Sovereign Republic of Kenya. We considered their cases at length here and determined that there was really no fault on their part. The Very Hon. Warsame was due for the chopping block when, out of the blue, someone handed him the executioner. Bound, hand and foot, and gagged. Tell me, what would any reasonable person do? Set the latter free with a cheerful "see you next week, at the appointed time, buddy!"?   Come on!   The Very Hon. acted in a perfectly reasonable manner and only after due & careful consideration. And while it is true that The Very Hon. Ibrahim had carried cases for 8 or 10 years, "like a hump on a camel's back", in the rather unfriendly words of the Vetting Board, who was really to blame there? The petitioners. Surely, any reasonable, thinking person would give up after 5 years or saw and let the judge get on with his life. Why were people still chasing cases that died (or should have died) ages ago?

  

[jakaswanga]

May 5, 2014 21:50:35 GMT 3 OtishOtish said:

Jakaswanga:

What is my name doing here again? I have already explained: This is the Big League. You, Tobiko, and the EACC types cannot even be ball-boys in a game at this level.

The judges are quite right to recuse themselves, one by one until there is no judge who to hear the case. A very novel approach, I admit, but that has nothing to do with anything. As for the court clerks, I've always been very impressed with Kenyan ones: when appropriately and sufficiently "inspired", they can even find files that have been lost for years.  You need to stop looking at, say, the ICC, where requests for recusal require very good and verifiable reasons---not "I am uncomfortable"---and it is not unusual for those asking to be told to can the nonsense and get back to work. (In some places if you get paid, you do the work; for comfort, you wait until you get home, after 5PM.)  What we have here is an African Problem, and it appears that an African Solution is being found. 

I don't know why you have suddenly decided to attack the Very Hon. Justices Warsame and Ibrahim, two pillars of law in The Great, Independent, & Sovereign Republic of Kenya. We considered their cases at length here and determined that there was really no fault on their part. The Very Hon. Warsame was due for the chopping block when, out of the blue, someone handed him the executioner. Bound, hand and foot, and gagged. Tell me, what would any reasonable person do? Set the latter free with a cheerful "see you next week, at the appointed time, buddy!"?   Come on!   The Very Hon. acted in a perfectly reasonable manner and only after due & careful consideration. And while it is true that The Very Hon. Ibrahim had carried cases for 8 or 10 years, "like a hump on a camel's back", in the rather unfriendly words of the Vetting Board, who was really to blame there? The petitioners. Surely, any reasonable, thinking person would give up after 5 years or saw and let the judge get on with his life. Why were people still chasing cases that died (or should have died) ages ago?

  

Your name, sir, has to be dragged in these matters of paralympic jurisprudential gymnastics because, by self-confession, and loudly proclaimed (in writing) too, you deeply respect the rule of the law, and are a very law-abiding citizen of … well, a country where disclaimers as to recusals, are motivated as if they are theses meant for studies in posterity. As such, the jua-kali ease with which these lesser profession-mates of yours from Kenya recuss themselves, surely is bound strike a raw nerve somewhere, assuming your new masters (that is b6k denouncing you after your famous shredding of your Kenyan passport) have managed to thrash out the archaic jua-kali instincts which, apparently, Canadian institutes failed to do in Willy Mutunga.

Then there is also the question of: for god so loved the world that he gave out his only begotten son to be crucified. So, logically, were The Son to be absent, sinning man would of course crucify The Father .

I have certainly not decided to attack camels and their ilks out of the blue. If you read the passage, I said recall, so it was by way of explication, or substantiation. Recalling an already established fact.
So where do you get the qualification attack from? I am stating facts! Take a look at the picture of Justice Ibrahim, man. He is certainly a camel, even after plastic surgery! And as for Warsame, let us just do an Obama on him: no amount of lipstick is gonna hide the pig he is!

But I know you have always insisted Mutunga is a good man. You are a good man too, Otishotish sir.. And some days I take your word for it. Yes, basically, Mutunga is a good man. Even if he is a terrible job of it!

The clerk interchanged Majanja with Ngugi! We have a TV program here called wife swap. But Judge swap? that is a Kenyan invention like M-Pesa! will be a hit!

[jakaswanga]

The giant of macroeconomics Njuguna Ndung'u, is packing his bags. He is not heading to Kamiti maximum by the way! which is where he belongs. Apparently he possesses plenty of insurance.

www.nation.co.ke/news/Njuguna-Ndungu-Central-Bank-of-Kenya-Governor-Retirement/-/1056/2613548/-/2494syz/-/index.html

President Uhuru Kenyatta is expected to hand-pick the next governor due to the delay in enacting the new Central Bank of Kenya (CBK) Bill that would have opened the appointment to a competitive process.

National Treasury Cabinet Secretary Henry Rotich told the Nation in an interview that the draft Bill was yet to be approved by the Cabinet, and therefore, had not been tabled in Parliament yet.

“The Bill will be presented in Parliament when it resumes. But there is no lacuna, we will proceed with what is existing,” he said
-------------------
Last year, Prof Ndung’u was named the sub-Saharan Africa Central Bank Governor of the Year in recognition of “his stewardship of the Central Bank of Kenya, that has inspired faith and confidence in Central Bank policy among key stakeholders”.

This came barely two years after a survey by Reuters ranked him the worst banker in Africa in December 2011, following the historic deceleration of the shilling when it exchanged at Sh107 to the US dollar.

shirringi shirringi, priiz ngrow up! for those who remember.

in an earlier sign of things to come.
www.businessdailyafrica.com/CBK-board-taps-new-chairman-to-replace-Ndung-u/-/539552/2012184/-/mj1la5/-/index.html

Economist Mbui Wagacha has been elected as the interim chairman awaiting a formal appointment by the President as per the rules passed last year. This is the first time this has happened since Independence in 1963.

The governor, however will continue chairing the Monetary Policy Committee (MPC), meaning the board’s role will be administrative.

“The appointment is not gazetted. He was elected by non-executive directors as an interim case,” said Prof Ndung’u in an email response to the Business Daily. “I will chair the MPC.”

The separation of powers makes the chairperson answerable over the management of Central Bank as an institution while leaving the governor with the role of making policies to ensure macro-economic stability of the countr

[jakaswanga]

THE CASE OF THE STUBBORN CORPSE AT CBK.

But first, a cultural dimension: know your country and her stranger than fiction events.

Dead body refuses to go home in Eldoret

Added on December 17th, 2013
There was drama in Eldoret when the body of a 25 year old casual worker was allegedly stuck on the streets of the busy town for more than 20 hours.Two vehicles hired to ferry the body home are reported to have developed mysterious mechanical problems.However, a third vehicle finally transported the body home for burial following certain ethnic rituals

Or

According to a story on Citizen TV a corpse refused to go to Shinyalu for burial...the hearse (an old landrover ) stalled in Kabarnet ....the corpse had to be 'confused' by turning the coffin and make the corpse believe that its actually being taken back presumably to Nairobi.

so these things happen in Kenya. Deadwood that just wont go away and rot in peace! Nowonder one can not breathe, the air is inundated with the stench of cheap corruption.

lets go:

Hifikepunye Pohamba, winner Mo-Ibrahim prize for leadership in africa, 2015.



For Kenyans who want to believe their own deluded blurb --the kind of national wishful thinking which declared former President Mwai Kibaki was not only eligible but indeed the top contender for the Mo-Ibrahim award recently bestowed upon outgoing Namibia's President Hifikepunye Pohomba--- today March 5 is another sad day. The come back kid, Africa's former worst central banker who got his act together to become Africa's best central banker, our own Professor Njuguna Ndung'u, is no more (in mission). That is, to all practical purposes, his heroic tenure is ended, and he only stays in office as caretaker, until Uhuru and Ruto have finished playing their tribal arithmetic and come up with a compromise replacement.

His exit without a named successor, however, overshadowed the announcement. Prof Ndungu's last day in office is Monday next week.
We will name a new governor when the time comes, was the comment from Treasury Cabinet Secretary Henry Rotich when asked by reporters. Observers have argued that a transparent succession plan for the governor of the Central Bank of Kenya would have been a major boost to market confidence.

Well, I will side with the cynical Njakip on this one. Africa is that kind of place where a central banker who has abetted --tax payer rape-- theft repeatedly is the brightest kid in town.

It is under his tenure that a lot of scandalous transactions took place at the Central Bank, in which the country lost billions of shillings. The Cockar Commission, established to investigate the sale of the Grand Regency Hotel, found out that the entire transaction was tainted with misrepresentation and deception to such an extent as to warrant specialised investigation by the Attorney-General and other relevant institutions into different aspects of the transaction.

The report nailed then Minister of Finance Amos Kimunya and Prof Ndung'u, stating that the governor was not truthful to other public institutions, notably the Kenya Anti-Corruption Commission, the Land Commission, the Public Procurement Oversight Authority and the Prime Minister about the sale of the hotel. The Finance ministry sold the five-star Grand Regency Hotel for Sh2.9 billion, three times lower than its estimated value of Sh7 billion.

Unfortunately, this report was never made public as the previous regime continued protecting the wrongs of Prof Ndung'u, says Kakamega County senator Dr Boni Khalwale, who was chairman of the Public Accounts Committee that, in 2012, declared Mr Kimunya and Prof Ndung'u unfit to hold public office for flouting the Public Procurement Act.

The scandal, where Kenyans lost more than Sh1.8 billion in a money printing deal with De La Rue, could be the biggest blight on Prof Ndung's legacy. The CBK used Sh10.2 billion to procure 2.6 billion bank notes from De La Rue between March 2003 and December 2011 through expensive stop gap orders. Under Prof Ndung'u, CBK continued to enter into and awarding of irregular contracts to De La Rue Currency and Security Print Limited on direct basis without regard for the Procurement Act.
An audit contained in a report by the Public Accounts showed that the 2006 deal would have seen the currency printed from Malta at a cheaper cost. The loss arising from using interim stop gap orders after the cancellation of the international tender for supply of 1.7 billion new generation bank notes is estimated at Sh1.83 billion.

That is the other side of africa's most performing central banker last year.

But relax: There is also lots of good where that came from. Here is the total read. From the Nairobi business monthly. --Remember Kenya is set to grow at world-leading 7%; the recent rebase upped GDP in excess of 30%; the shilling is holding; Mpesa transactions are hitting trillions ksh. per month; banks are reporting roaring profits, and the sky is the limit. That kind of statistics should take a genial central banker. (Weidmann Jens, my favourite tough guy [Bundesbank, Jirmania] atoe :-Xkofia! And Dr. David Ndii of Nairobi, nauseated by mediocrity all round the capital city, apumue safi!)
www.nairobibusinessmonthly.com/index.php/money/8-latest-news/291-heads-or-tails-prof-ndung-u-s-chequered-scorecard


Replacing a genius is no easy task, therefore one does not want to rush the two boys toying around at the top of government. Take your time boys. This better be a good shot.

www.nation.co.ke/news/No-successor-yet-as-CBK-boss-exits/-/1056/2640646/-/1213dvjz/-/index.html

Monday, March 2, 2015 No successor yet as CBK boss exits

Central Bank of Kenya Governor Njuguna Ndung'u's term in office ends Tuesday midnight.

His term has been characterised by huge expectations, most of which are largely unmet, with interest rates stagnating, even after the introduction of the Kenya Banks Reference Rate.
Up to a few days before his term ends today, the CBK governor was surviving on temporary orders barring his arrest pending determination of a case challenging alleged corruption charges against him issued on February 13 by High Court Judge David Majanja.
Director of Public Prosecutions Keriako Tobiko had ordered that Prof Ndung’u be prosecuted for irregularly awarding a Sh1.2 billion tender to install a modern security system at the CBK.
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By EDWIN OKOTH

Professor Njuguna Ndung’u will not be the Central Bank of Kenya governor from midnight, as the question of who will succeed him remains unanswered.
Prof Ndung’u’s tenure ends after seven years at one of Kenya’s most powerful offices.
His term has been characterised by huge expectations, most of which are largely unmet, with interest rates stagnating, even after the introduction of the Kenya Banks Reference Rate.
He, however, made gains in the financial inclusion agenda, with the un-banked population significantly reducing and mobile money hitting a record high in transaction numbers and volumes.
The 54-year-old nearly escaped the controversies that characterise the exit of almost all occupants of the corner office at CBK.
Like his predecessors, Prof Ndung’u was faced with circumstances that nearly made his exit from office unceremonious.
Up to a few days before his term ends today, the CBK governor was surviving on temporary orders barring his arrest pending determination of a case challenging alleged corruption charges against him issued on February 13 by High Court Judge David Majanja.
Ethics and Anti-Corruption Commission detectives had reportedly made unsuccessful attempts to arrest him that week, claiming he could not be located.
Director of Public Prosecutions Keriako Tobiko had ordered that Prof Ndung’u be prosecuted for irregularly awarding a Sh1.2 billion tender to install a modern security system at the CBK.
So today exits the governor. He is leaving the Central Bank’s hot seat from which all his predecessors have had rougher times and barely saw what Prof Ndung’u will see today, the end of a term.

Imagine, O fellow citizens, what our country and continent would look like with just a little competence and a little less state looting! --Waaauw!

[OtishOtish]

Mar 5, 2015 21:07:06 GMT 3 jakaswanga said:

Well, I will side with the cynical Njakip on this one.

Slow down on the slurs, friend. "Cynical" suggests a negative/defeatist attitude, and that is quite different from the neutral observation that, say,  rain usually follows big bunches of dark, heavy clouds.

Anyway, what's the excitement about the gavna? The plain, simple facts are that: (a) Kenya has its owners, and Kenyans were bluntly told that many years ago; (b) the owners need to have someone supervise the flow of Wanjiku's money their money to Switzerland and beyond. So then!  Step forward, Prof.  

Considering the above, it takes a particular type of moron to have the cheek to even imagine that the gavna can be messed with. Guys like these---along with the likes of Dark-Prince Kimemia and Peanut-Head-Caesar Kinyua---are at the top of The Knowing Heap: if you know  people who know people who know people ... at the end, they are The Known. When PORK, perhaps hangover, gets up in public and says that the corruption starts in his office, who do you think calls him for a "little chat" and tells him to stop running his mouth?

The EACC should stick to what it does best:

(a) "quizzing" this and that person;

(b) "recording" statements; and

(c) the sort of Big Announcement they gave Kenyans today: www.the-star.co.ke/article/eacc-nabs-health-officer-receiving-sh10000-bribe-clinical-certificates#sthash.AxaleilV.9BmOcyky.dpbs

[jakaswanga]

STILL A VACUUM AT THE TOP OF THE CBK

nb: Power hates a vacuum, and Transitional vacuums in Kenya gives me ulcers. It was during such a transitional vacuum, that Francis Kimemia and Mutea Iringo fraudlently relieved Wanjiku of a sum which was later to mesmerise the PAC under Ababu Namwamba! Amount? anywhere between ksh. 2.8 and 8.2, billions! (EACC too has recussed itself than have an opinion on this!)

Yesterday Monday 25th, the Daily Nation in a poignant editorial hit the bull's eye. Keep it in mind as we wander the political landscape, and let all senses be alert for that is an area mined with booby traps, false bottoms, mazes and boasts decoys unspeakable.

www.nation.co.ke/oped/Editorial/Central-Bank-of-Kenya-Governor-Appointment/-/440804/2729396/-/w9rv2nz/-/index.html

Monday, May 25, 2015
Appoint CBK boss to help stabilise shilling

Against this backdrop, there is urgent need to reverse the decline and steady the money market. And this is where the Central Bank, the regulator, comes in. However, this is circumscribed because of instability at the bank’s leadership.
The position of the Governor has been vacant since March when Prof Njuguna Ndung’u, exited after completing his statutory two-term tenure. Similarly, the position of chairman is vacant following the expiry of the tenure of the past occupant, Dr Mbui Wagacha.
The Monetary Policy Committee is also operating without a full complement of the membership as the term of some members has ended and new ones have not been appointed.
Whereas having a substantive CBK Governor and chairman may not directly shield the shilling from dipping, they give the bank strategic direction to deal with economic fluctuations.

To date all is silent on the CBK front. That is after the stealthy exit of Prof. Njuguna Ndung'u who, to may amazement, is saluted by Razia Khan of Standard Chartered as the Hero of Mpesa. Methinks he needs his dirty professorial head chopped off for theft, Mpesa hero or no Mpesa hero.

Evidence that it was not all smooth for Prof Ndung’u comes from the fact that he is leaving under a cloud from the corridors of justice where he has been fighting allegations of occasioning taxpayers a Sh400 million loss through a flawed tendering process.

He is accused of defending the award of a Sh1.2 billion security tender to Horsebridge Networks Systems East Africa Limited.
That has not prevented analysts from describing his eight-year tenure as having been “filled with pragmatism, innovation and risk aversion”.
“No other central bank governor has done as much for financial inclusion in Africa,” said Razia Khan, the head of Africa Research at Standard Chartered Plc.
“Prof Ndung’u demonstrated what was possible with an open and innovative approach to financial sector regulation. His record hasn’t only been a relative success for Kenya; it is the standout African example of more rapid financial inclusion, too,” Ms Khan said.
That view is hinged on Prof Ndung’u’s decision early in his tenure to allow the roll out of Kenya’s first mobile money transfer service M-Pesa amid protests from banks.

www.businessdailyafrica.com/Corporate-News/End-of-an-era-as-Ndung-u-calls-it-a-day-at-the-CBK/-/539550/2640490/-/cuoru9z/-/index.html

I am always pleasantly surprised. Kenyans are winning awards left and right in Africa. CJ Mutunga won a continental award; Super Minister, the Matriarch Anne Waiguru too is a fresh winner, for making devolution a sure success; Uhuru Kenyatta himself too has bagged one, for running one of the most dynamic economies in the continent; Raila Odinga and Kibaki too, as wise and elder statesmen; not forgetting KAA for its management of JKIA !---in fact the list of continental honours awarded Kenya is endless. I believe even our speakers have come out around best of all African parliaments.
And, naturally, as one reads above, Njuguna Ndung'u was severally African Central Banker of the year. Such men should retire with ''their noses in the air'' as we say down at the lake.
But why am I pleasantly surprised? Because all these awards mean, that if Kenyan institutions were to work, and perform at about 50% their competence, Kenya would be an outright first class nation in the world. Let me say, assuming SAFARICOM is a Kenyan company, then if any Kenyan ministry (or parastatal) would be run with half its competence, passion and innovation, then, taking the case of the ministry of health for instance, Kenyatta National Hospital or Jaramogi referral in Kisumu (aka Russia), would rate above any Agha-Khan hospital anywhere in the world! For starters.
If we Kenyans, the way we run our public services, still rank among the best in Africa, then for sure Africa must be a real sorry place in terms of public administration. Nevertheless we must allow ourselves a big kudos, unless of course these ratings are rigged like the LIBOR of London, and fake like the other cartel rates of the major world banks; and are therefore merely PR-blurbs birthed of lazy wishful thinking.
But benefit of doubt I say give! The RoK iko juu, juu zaidi! thinking of fcucked-up garbage neighbours like the RSS.
www.businessdailyafrica.com/CBK-board-taps-new-chairman-to-replace-Ndung-u/-/539552/2012184/-/mj1la5/-/index.html

SO WHY IS IT TAKING SO LONG?

The explanation must be sought in political factors. William Ruto has of late ridiculed Raila this is no NUSU/MKATE sirikali, and he (Ruto) and Ouru are twins in mind, body and soul. That is wishful thinking, and Sir William is spewing horsesh!t from his vice presidential mouth. He and Muigai can not agree on how to share this spoil.

The control panels of the CBK is also a pinnacle of discrete looting. As the Kenyan economy is increasingly financialised, and Kenyan capital aggressively expands in the region, albeit in concert with and under foreign guidance (eg, after East African success, Equity Bank is joining up with a German bank to adventure deep in Congo

EQUITY Group Holdings Ltd., Kenya’s second-largest bank by market value, will buy a Congolese lender in its first acquisition outside the East African market as it seeks to triple the number of markets it operates in within a decade.
The bank, based in the capital, Nairobi, will buy 79% of ProCredit Bank Congo SA, which has total assets of $200 million and a customer base of more than 170,000 small- business customers, Equity Group Chief Executive Officer James Mwangi told reporters Tuesday.
“We have allocated for this project $60 million and that does not mean purchase price only,” Mwangi said, without providing further details about how much it paid for the stake.
The acquisition is subject to regulatory approval in the Democratic Republic of Congo (DRC) and Kenya, he said.
mgafrica.com/article/2015-05-26-equity-bank-of-kenya-acquires-stake-in-dr-congos-seventh-biggest-lender-procredit

Such moves needs some back cover, for prudence's sake. And with the KDF in Somalia, and big Somali banks listed as terrorist, that too is a market to salivate for, should that country be pacified.

Nairobi then, can be considered a mover and shaker of the nearby earths. That brings us to the next line of interested parties.

1. The IMF –for its traditional reasons-- would be interested in controlling the fiscal policies of states like ours. That is why the pulled rank and forced Raila and Kibaki and Uhuru Kenyatta (then finance minister) to have them write the devolution financial bills, and the tax laws. (That this was laying a mine between the central government and the county governments shall need be tackled later). But suffice to say, is that Uhuru and Ruto can not be let decided this CBK gubernatorial as a URP/TNA electoral cake.

2. The Chinese are major if not monopoly suppliers of infrastructural credit. Some of these loans will mature within the decade, that is within the tenure of the next governor of the CBK. They may wish to nudge policies in a certain way, to minimise the risks of default. And like it or not, these guys have a big say in town –for you all know Obama does security not infrastructure, and it is infrastructure where the greatest looting scams have been taking place. How do the Chinese feel? Nervous enough to engage in power play?

3. Then there is the traditional constituency from which Mr. Kenyatta comes. Chauvinist with feelings of entitlement and emotional levers to pull. This golden opportunity can not be missed, to further their economic goals.

I then propose to speculate, that this confluence of forces has created a whirling turbulence which has blown Uhuruto's wits away, and rendered the president incapacitate to decide. And yes, it is a whale of a decision. As the Nation notes above, the shilling needs a jab, a tranquiliser, then an energizer. That kind of support will need hard (foreign) currency ---an IMF loan. As things get desperate, the IMF is likely to demand its pound of flesh and bowl of blood. That is it takes control of your central bank the way they –Troika-- did with little Greece.

Kenya eyes IMF loan to shore up weak shilling

Wednesday, May 13 2015 at 04:31
In Summary

Kenya borrowed Sh64 billion from IMF in February this year fearing the economy’s vulnerability to shocks arising from growing integration into global markets, insecurity, extreme weather changes and huge imports for infrastructure projects.
The Treasury is considering tapping into the precautionary loan given by the International Monetary Fund last year to support the shilling, which gained marginally against the US dollar in yesterday’s trading.
Treasury secretary Henry Rotich said the government had not set an exchange rate that would trigger drawing the funds, but was being guided by the causes of the shilling’s depreciation.

3 February 2015: IMF gives Kenya $700m insurance loan

www.bbc.com/news/world-africa-31092830

The International Monetary Fund has agreed to make loans of around $700m (£460m) available to Kenya.
The money will be used as an insurance policy to protect against any threats to the country's economy, considered a financial powerhouse in East Africa.
The Kenyan government requested the package as a precautionary measure, in case of an emergency such as a natural disaster or militant attack.
The funds will be available for the next 12 months.
–-------------
However, this insurance policy comes at a price.

The government has to commit to follow IMF rules.

These include managing debt levels, commitments on big infrastructure spending when it comes to improving road and rail networks and meeting inflation targets.

And so, as week after week, the Uhuruto show in accompaniment to vuvuzela-buzz propellers from a fleet of choppers, hops from funeral to church and from church to funeral, all the time piteously crying wolf, pointing at Raila and wailing he and Kalonzo are worse than Al-Shabaab, but the shilling is left to the wiles of speculators and currency scavengers, some of whose talons are already sunk into the treasury.



Well, seeing how cross I was with Lucy Mbugua at the Kenya Airports Authority despite her winning African prices for performance, I think I should even be crosser with Dr. Rotich, the cabinet secretary for finance. ---he is a Kennedy Harvard man. And I can treat him the way I treat Wolfgang Schauble of the Bondsrepublic Deutschland. Expecting nothing but steely excellence.
With Uhuruto impotent, the CBK adrift and left to its fate like a stricken, abandoned ship, yet the fin-sec is busy kumbaya singing, he Rotich is sure asking for it. You know, a put down, like Professor Saitoti forced Moi's hand: ''shut the fcuck up, professor!'' Moi snapped.
Had the professor been worth his brains and had the economy roaring, Moi wouldn't have dared bark at him like that; neither would George have dociled up like he did. But heck, Saitoti had winning these African prices Moi knew were fake!

[kamalet]

Do you seriously think the CBK governor is the panacea for the struggling shilling against the Dollar? How about looking elsewhere for the reasons to a weak shilling? Poor inflows of tourism money, poor performance of coffee and tea in international markets and all this the great appetite for Kenyans for all things imported! The rising dollar value against international currencies cannot be ignored and it is quite clear what is happening in the neighbouring countries where the depreciation of their local units has been even worse than the shilling!

The media plays alarmist but there will be positives as the exporters will be making a killing with the weak shilling.....luckily I doubt if this would be the making of another Chepkube!

[jakaswanga]

May 27, 2015 23:52:11 GMT 3 kamalet said:

Do you seriously think the CBK governor is the panacea for the struggling shilling against the Dollar? How about looking elsewhere for the reasons to a weak shilling? Poor inflows of tourism money, poor performance of coffee and tea in international markets and all this the great appetite for Kenyans for all things imported! The rising dollar value against international currencies cannot be ignored and it is quite clear what is happening in the neighbouring countries where the depreciation of their local units has been even worse than the shilling!

The media plays alarmist but there will be positives as the exporters will be making a killing with the weak shilling.....luckily I doubt if this would be the making of another Chepkube!

No, panacea definitely not, but as the much denigrated Daily journalist today shows in pulled-up socks, the presence of a full team at the top would be highly instrumental in giving STRATEGIC guidance during this crisis!
Panacea? Even Yellen of the FED or Draghi of the ECB are nowhere in such a radar!
Me says Ouru should hire Mank! But he is too beholden to emm people like Kamale n Onyango Oloo! He he he!

[podp]

May 28, 2015 11:33:23 GMT 3 jakaswanga said:

May 27, 2015 23:52:11 GMT 3 kamalet said:

No, panacea definitely not, but as the much denigrated Daily journalist today shows in pulled-up socks, the presence of a full team at the top would be highly instrumental in giving STRATEGIC guidance during this crisis!
Panacea? Even Yellen of the FED or Draghi of the ECB are nowhere in such a radar!
Me says Ouru should hire Mank! But he is too beholden to emm people like Kamale n Onyango Oloo! He he he!

a fb friend chimed 'Madame Christine Lagarde is sure an amazing brain. Can bilateral discriminatory arrangements between powerful former colonial powers and their former colonies be done away with through a Lilliputian strategy where former colonies achieve control by collectively binding the colonial power ? Why has Francophone Africa failed to stop French unilateralism ? Why has multilateralism not worked in favor of Africa ?'



but on a side note taking the red high light into perspective, it is true our current PORK is beholden to loyalty much more than professionalism and as long as that is his trend and style we will continue decrying lack of tourism to bring in jobs and cash hence the hopeless because of insecurity when such grander is not availed to Recce guys

Several senior Government officials also flew to the site of a presidential event near Voi in private helicopters. Each of the Cabinet secretaries arrived in a private helicopter that landed and was neatly parked near Tsavo River.

Read more at: www.standardmedia.co.ke/?articleID=2000163621

[jakaswanga]

1. The IMF –for its traditional reasons-- would be interested in controlling the fiscal policies of states like ours. That is why the pulled rank and forced Raila and Kibaki and Uhuru Kenyatta (then finance minister) to have them write the devolution financial bills, and the tax laws. (That this was laying a mine between the central government and the county governments shall need be tackled later). But suffice to say, is that Uhuru and Ruto can not be let decided this CBK gubernatorial as a URP/TNA electoral cake.

Read more: jukwaa.proboards.com/thread/9002/who-protecting-corrupt-governor-ndungu#ixzz3c1rCqX3q

IMF man named Kenya’s next Central Bank governor

Posted Wednesday, June 3 2015 at 08:54

In Summary

President Kenyatta has nominated Dr Patrick Ngugi Njoroge as the successor to Prof Njuguna Ndungu at CBK.
Mohammed Nyaoga is proposed for chairman with Dr Haron Sirima and Ms Sheila M’Mbijiwe as deputy governors.

President Uhuru Kenyatta has nominated Dr Patrick Njoroge as the successor to Prof Njuguna Ndung’u at the Central Bank, passing over deputy Governor Haron Sirima and three others.

The President also proposed lawyer Mohammed Nyaoga for chairman with Dr Sirima and banker Sheila M’Mbijiwe as nominees for deputy governor.

Njoroge, a Yale-educated advisor to the International Monetary Fund based in Washington, was among five candidates shortlisted by the Public Service Commission (PSC) in a competitive process that drew eight qualified applicants.

Others on the shortlist included Dr Sirima, Dr Geoffrey Mwau, Dr Edward Sambili and Dr Peninah Wanjira Kariuki.

Media reports in the run-up to the nomination quoted numerous sources naming Dr Sirima as the favourite and Dr Mwau and Dr Sambili as strong contenders, making Dr Njoroge the dark horse in the contest.

The shortlist for chairman had also included Dr Bernard Mbui Wagacha, Dr Benson Akong’o Ateng’ and Mr Nicholas Bartuiyot Korir.

www.businessdailyafrica.com/Njoroge-to-replace-Ndungu-as-CBK-governor/-/539546/2738160/-/v5uo30/-/index.html

[jakaswanga]

In one of the banking threads around here, I promised to find the price report, when Ndung'u was declared the hottest banker in the continent. ONCE UPON A TIME,

Former Central Bank of Kenya Governor Ndung’u named African banker of the year

03 June 2015
 
www.afi-global.org/news/2015/6/03/former-central-bank-kenya-governor-ndungu-named-african-banker-year

Former Central Bank of Kenya (CBK) governor Njuguna Ndung’u.

Njuguna Ndung’u, former Central Bank of Kenya (CBK) Governor and former Alliance for Financial Inclusion (AFI) Steering Committee Chairperson, has been named the central banker of the year by the London-based African Banker magazine for his work in Kenya during 2014. 

Professor Ndung’u’s tenure as Governor at CBK saw the rise of the now famous M-Pesa platform which quickly positioned Kenya as a global leader in the financial inclusion space. Under his direction, CBK embraced the idea of creating an enabling environment for financial inclusion, which allowed mobile financial services to rapidly expand from a niche product into a central part of life for millions in Kenya.

Professor Ndung’u recognized that powerful knowledge and expertise on financial inclusion policy also existed across the developing world. Other countries were seeing different types of success, but lacked a global platform to share and exchange ideas and experience. As a result, Professor Ndung’u brought CBK into the AFI Network as one of its first members and one of its greatest advocates. The first AFI Global Policy Forum (GPF) was held in Nairobi in 2009, where Professor Ndung’u took on the role of AFI’s first Steering Committee Chairperson.

Mpesa!? Wololo! I thought the name was Michael, Michael Joseph! I will go to re-read his memoirs on this!

Here is the pride which goes before a fall! The ace was flying high like a bird, but some other flying object hit its wings and down it came. But what UFO exactly was it!?

Third bank collapse puts former CBK boss reign on the spotlight


The well-read economist is the poster boy for financial inclusion, often earning red carpet treatment in global financial circles.

Sunday, April 10, 2016

... www.nation.co.ke/news/Third-bank-collapse-puts-former-CBK-boss-reign-on-the-spotlight/-/1056/3152748/-/4mu1r2z/-/index.html
The regulatory style of former Central Bank of Kenya Governor Njuguna Ndung’u has yet again come under the spotlight following the collapse of Chase Bank, the third Kenyan lender to be placed under receivership in just under nine months.
The well-read economist is the poster boy for financial inclusion, often earning red carpet treatment in global financial circles.

During his eight year reign, he earned his place of pride among scholars and proponents of financial inclusion through his bold regulatory actions which roped some of Kenya’s most poor and previously unbanked into the financial system, leapfrogging Kenya to the top of the financial inclusion world.

Higher learning institutions of repute like Harvard, Oxford and Yale universities have been known to base their studies on his reign and develop model regulatory regimes which promote inclusion.

LAX FINANICAL REGIME

If this is not blurb, then Njuguna is a genius. So I have to come up with an explanation why a genius leaves behind a mess worse than an illiterate moron would make. this is the key to understanding Africa's place at the bottom of the global economic hierarchy. Mr. Green asked it at the end of No Longer at Ease.



How do brilliant Africans make such a mess of things? Njuguna the genius, like Obi Okonkwo, belongs to jail. There is that tender fraud. The professor is just another thief in Nairobi.


Central Bank of Kenya governor Patrick Njoroge. Members of the Senate Finance Committee want Dr Njoroge and senior officials under him tasked with monitoring commercial banks questioned saying it was not enough to only target directors of collapsed banks and let the regulator free. PHOTO | EVANS HABIL | NATION MEDIA GROUP


Now it is new kid Patrick Njoroge on the spot. He inherited a mess yes, but barely in office the poor man is now being called upon by the senators --(chaired by Billow Kerrow)to explain corruption at the CBK --collusion between regulators and the bankers!