Why Treasury CS nominee gets paid in dollars

Treasury CS nominee Njuguna Ngung’u revealed his net worth as Sh950 million

Treasury CS nominee Njuguna Ngung’u when he appeared before the National Assembly Committee on Appointments on October, 18, 2022

Treasury CS nominee Njuguna Ngung’u revealed his net worth as Sh950 million when he appeared before the National Assembly Committee on Appointments.

Ndung’u said his current earnings were in dollars but converted to the local currency.

Currently, I am salaried under the African Economic Research Consortium but my anticipated earnings would be graduating…then it means I’ll have to leave my job," he said.

Besides his salary, Njuguna also stated he has financial investments in diverse areas.

Ndung’u is an Associate Professor of economics at the University of Nairobi and served as Governor of the Central Bank of Kenya from March 2007 to March 2015. He became the first CBK governor to complete two 4-year terms.

Before being appointed CBK Governor, Professor Ndung’u was the Director of Training at the African Economic Research Consortium (AERC).

Ndung'u has had extensive research and teaching work in various fields of economics, including macroeconomics, microeconomics, econometrics, and poverty reduction.

In 2019, he served on the advisory board of the annual Human Development Report of the United Nations Development Programme (UNDP), co-chaired by Thomas Piketty and Tharman Shanmugaratnam.

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