Finance ministry CS candidate Njuguna Ndung’u told review committee he was worth KSh 950m

• President William Ruto has appointed former Central Bank of Kenya (CBK) Governor Njuguna Ndungu as CS candidate for the National Treasury.
• Ndungu appeared before a parliamentary committee that screens candidates for the cabinet on Tuesday, October 18.
• He revealed that his net worth is 950 million KSh and his sources of income include employment and investment.

Former Governor of the Central Bank of Kenya (CBK) Nyguna Ndungu has publicly declared his net worth.

Njuguna said at a parliamentary review committee on President William Ruto’s cabinet candidates that he was worth KSh 950 million.

Ruto has nominated Nyguna as a candidate for the State Treasury and Planning Cabinet (CS) in September 2022.

Ndung’u income in US dollars

Mr Ndung’u told the committee chaired by Chairman Moses Wetangula that he now earns in US dollars.

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“My net worth is approximately 950 million KSh. I currently earn in dollars, but they are all converted to Kenyan shillings,” said Ndung’u.

Ndung’u said he is currently working as an office worker at the African Economic Research Consortium and expects income to graduate when his contract ends.

Ndungu coffers

The candidate noted that current earnings have matured from the various financial investments in which he has been engaged.

Ndung’u joins a list of ministerial candidates who declared their multi-million wealth on Monday 18 October.

Wealth of Musalia Mudavadi

The chief cabinet secretary candidate Musalia Mudavadi attended and underwent a review at the National Assembly’s Appointment Committee.

Mudabadi said during intense questioning that his source of income was rent, dividends and other expenses from his farm.

“After investing in stocks of various companies and real estate owned, my net worth is around KSh 4 billion,” Musalia said.

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Kithure Kindiki discloses that he is worth KSh 544m: “I have a bank deposit valued at KSh 50m”

The leader of the Amani National Congress (ANC) has distanced himself from the Goldenberg scandal of the 1990s, saying he was a newcomer to the Treasury Department at the time.

The former Deputy Prime Minister served as the Ministry of Treasury and Planning during the tenure of the late President Daniel Moi.

If he is confirmed, Mudavadi will become the highest ranking government official after Ruto and Vice President Rigathi Gachagua.

Source: TUKO.co.ke