Ruto Abruptly Revokes Njagagua’s Appointment as Consolidated Bank Chair

President William Ruto has unexpectedly revoked the appointment of Charles Muriuki Njagagua as Chairperson of the Board of Directors at the Consolidated Bank of Kenya.

According to a Gazette Notice dated October 3, the revocation took effect immediately. Njagagua, a former Mbeere North MP, had held the position for nearly three years.

 “In exercise of the powers conferred by Section 6(1)(a) of the State Corporations Act, as read with Section 51(1) of the Interpretation and General Provisions Act, I, William Samoei Ruto, President of the Republic of Kenya, revoke the appointment of Charles Muriuki Njagagua as Chairperson of the Board of Directors of the Consolidated Bank,” the notice stated.

Njagagua was appointed to the role on February 10, 2023, shortly after losing his parliamentary seat in the 2022 General Election to Geoffrey Ruku, now the Cabinet Secretary for Public Service.

UDA Links to the Decision

The timing of the revocation has raised eyebrows, coming just a month after Deputy President Kithure Kindiki unveiled Njagagua as head of the United Democratic Alliance (UDA) secretariat for the upcoming Mbeere North by-election.

During the event, Kindiki praised Njagagua for his loyalty and unity, announcing that he would coordinate the party’s campaign activities in the constituency.

 “We appreciate Njagagua’s selflessness. He will lead the campaign secretariat to ensure our candidate’s victory,” Kindiki said at the September 6 ceremony.

Njagagua was among several UDA aspirants who stepped down in favour of Leonard Muriuki (Leo), following internal consultations within the ruling party.

Treasury Makes New Appointments

Meanwhile, Treasury Cabinet Secretary John Mbadi has restructured the Consolidated Bank board, appointing Kennedy Ntabo Otiso, Edward Kiplimo Bittok, and George Mokua as new directors.

Their appointments, also outlined in the October 3 Gazette Notice, will last for three years.

In the same notice, Mbadi revoked the appointments of Kenneth Gatheru Gatiithi, Harun Kipkemei Mosop, and Jedidah Karwitha Mwiti.

“The three will serve as members of the Board of Directors of the Consolidated Bank of Kenya Limited for a period of three years, effective October 3, 2025,” the CS announced.