By Nyang’au Araka
Gerald Nyaoma Arita has taken up his docket as the new Deputy Governor at the Central Bank of Kenya.
Nyaoma assumed the office after he got appointed by President William Ruto last year.
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“On behalf of the CBK Board, Management and Staff, I wish to congratulate Nyaoma on his appointment,” said CBK Governor, Dr Kamau Thugge.
In a dispatch on Tuesday, Thugge said added: “It’s an honour and pleasure to welcome him back…”
CBK has two deputies, the other one being Dr Susan Koech.
Nyaoma joined the bank in 1988, and has served in various dockets.
The portfolios include Financial Markets, Banking Services, and Internal Audit.
His latest assignment was at the Bank Supervision Department where he served as director.
Nyaoma studied at the University of Nairobi before he proceeded to the United Kingdom (UK).
He also has several other qualifications obtained in the country.
The Senate Finance and Budget Committee jointly with the National Assembly Departmental Committee on Finance and Planning, held a joint approval hearing Nyaoma late last year.
“When Safaricom Limited was introducing M-Pesa in Kenya, Michael Joseph first met me in Central Bank of Kenya and I issued Safaricom with interim license to roll out mobile banking, I take that as an achievement that helped Kenya to open up financial inclusivity,” Nyaoma told the committee.
He declared his wealth to be Ksh. 169 million but with a caveat of absence of updated valuation of his residence which he gave a conservatory value of Ksh. 25 million, according to the update on the Parliament of Kenya website.
Nyaoma indicated that there is need to create an environment where Kenyans can have more money in their pockets.
“The interest rate is still high in Kenya but with stability of macroeconomics in the country, we shall increase money in the pockets of citizens in Kenya,” he said.
