CBK Deputy Governor Nominee Arita Approved by National Assembly

NAIROBI, Kenya, Nov 28 – Gerald Nyaoma Arita is set to become the Second Deputy Governor of the Central Bank of Kenya (CBK) after the National Assembly approved his appointment. The decision followed a joint committee report affirming his qualifications and readiness for the role.

The Finance Committee Chair, Kimani Kuria, emphasized Arita’s comprehensive understanding of CBK’s mandate and monetary policies. “The nominee demonstrated a clear grasp of the challenges facing CBK and outlined practical strategies to address them,” Kuria said.

Suba South MP Caroli Omondi, who seconded the motion, lauded Arita’s 36 years of experience at CBK, noting that it made him an exemplary choice for the position. Arita’s nomination, made by President William Ruto, now moves to the Senate for final approval before his swearing-in.

Arita’s extensive tenure at the CBK, which began as a management trainee in 1988, culminated in his role as Director of Supervision before retiring last month. Addressing the vetting committee, the 60-year-old nominee vowed to tackle inflation and lower the cost of basic goods, helping ease financial burdens on households.

During the vetting process, Arita addressed pressing economic concerns. Migori Senator Eddy Oketch queried his plans to resolve the liquidity crisis amid reduced government spending. Arita assured the committee of his focus on price stability and economic resilience.

On fostering collaboration with CBK Governor Kamau Thugge, Arita expressed confidence, citing their productive past working relationship. Responding to concerns about bank fraud raised by Mombasa Senator Mohammed Faki, he emphasized strengthening cybersecurity and tightening systems to protect customer funds.

With his approval by the National Assembly, Arita is poised to bring decades of expertise to his new role at the CBK.