NAIROBI, Feb 26 – Consolidated Bank of Kenya has confirmed Dominic Murage as Acting Chief Executive Officer following regulatory approval from the Central Bank of Kenya, the board said in a notice.
The bank said Murage’s appointment took effect on October 12, 2025, after completing the required vetting process. The board stated that the approval resolves earlier concerns raised by regulators over the appointment process.
The leadership change follows a dispute involving the Treasury and the bank’s board. In October 2025, Kenya’s Cabinet Secretary for Treasury, John Mbadi, removed the bank’s chief executive and several board members. The decision came after the board moved to renew the contract of former CEO Sam Muturi.
The Treasury later backed Murage as acting chief executive. However, the Central Bank of Kenya objected at the time, stating that the appointment did not meet the required “fit and proper” assessment before assumption of office.
The dispute led to a court petition filed by Muturi, who sought reinstatement or compensation of 76 million Kenyan shillings. He argued that the Treasury lacked the authority to override the board in appointing a chief executive.
The board said the latest approval confirms compliance with regulatory requirements and allows the bank to proceed with its leadership structure.
The bank said it expects the current leadership to guide operations and support its strategic direction following a return to profitability. It reported a profit of 12 million Kenyan shillings in the first half of the previous financial year, its first in 15 years, according to the board statement.
