Kenya, under pressure from Western donor agencies and countries to clean up its financial sector, replaced Mr Kotut on Friday with Micah Cheserem, a little-known accountant. Finance Minister Musalia Mudavadi said he had launched 'intensive investigations' into the bank's operations after an independent team of auditors revealed extensive irregularities.
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NAIROBI (Reuter) - Kenya's central bank governor, who resigned after the government launched an inquiry into the operations of the institution, said yesterday that he was not responsible for bad management. 'The impression that I was sacked due to some misconduct or that I may be associated with some malpractices committed in some commercial banks or by some individuals within the central bank is false and unfair,' Eric Kotut said.