The Treasury has reserved a decision by the Insurance Regulatory Authority’s (IRA) board of directors to send the agency’s chief executive officer, Godfrey Kiptum, amid an unspecified “legal and any matters of concern” investigation.
Mwamba Mabonga, the chairman of the IRA board, announced on Friday that a special meeting had resolved to send Mr Kiptum on leave and to replace him on an interim basis with Monica Thirima, a senior manager at the State agency in charge of consumer protection.
However, Treasury Principal Secretary Chris Kiptoo overruled the decision, stating that Mr Kiptum would remain in office pending further consultation on the board’s decision.
“It has been brought to our attention that in your capacity as chairman of the board of the IRA, you have made communication to staff regarding leave of chief executive officer with effect on Friday, May 19, 2023,” the PS said in a letter to Mr Mabonga dated May 22, 2023.
“In view of the critical role IRA plays in the insurance industry and to enable the National Treasury enough time to understand circumstances surrounding the decision by the board to send the CEO on leave, it has been decided that the CEO Mr Godfrey Kiptum, Commissioner of Insurance or CEO remains in office pending necessary consultations,” Dr Kiptoo added.
In his communication to staff on Friday Mr Mabonga had said all officers with pending leave days at IRA would also proceed on leave alongside the CEO.
“An investigative agency be identified to investigate legal matters and any other matter of concern,” Mr Mabonga added in the memo without specifying the nature of investigations to be conducted.
