Kenya president appoints new central bank governor

President Kibaki of Kenya has officially received and accepted the resignation of Nahashon Nyagah as the governor of Central Bank of Kenya (CBK). Dr Andrew Mulei has been appointed as his replacement. The CBK confirmed to CentralBankNet that Dr Mulei's position is effective from 5 March.

The reason for Nyagah's resignation, reports suggest, concerns his alleged involvement in a bank scandal.

Source: Daily Nation, Nairobi

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