Njuguna Ndung’u: My net worth is Sh950 million
The National Treasury and Planning Cabinet Secretary nominee Njuguna Ndung’u has disclosed that he has a net worth of Sh950 million.
While appearing before the National Assembly Committee on Appointments today for vetting, he revealed his net worth attributing different sources of income as the source of the immense wealth.
“My worth is roughly about Sh950 million. Currently I am earning in dollars, but everything is translated into Kenya shillings,” he said.
Njuguna added that although he was now paid a salary by the Africa Economic Research Consortium, he expected to receive a gratuity when his contract expired.
About the Kenyan taxing system, Ndung’u affirmed his belief that tax incentives and affordable taxes will increase revenue collection as opposed to high taxes.
Between 2007 and 2015, Ndung’u held the position of governor of the CBK for two terms of four years each. Dr. Patrick Njoroge succeeded him.
In spite of objections from commercial banks, he is credited with easing mobile money’s introduction into Kenya’s financial system, a move that improved the country’s financial access.
Ndung’u, who served as the leader of a group of economic specialists, was a key factor in the creation of the United Democratic Alliance (UDA) manifesto known as “The Plan.”
