National Bank of Kenya’s chief executive Wilfred Musau earned a total of Sh48 million in the year ended December, representing an 80 per cent pay rise from his previous position as the lender’s director of retail banking.
Mr Musau was paid Sh26.8 million in the previous year when he held the additional role of acting CEO for six months after the sacking of his predecessor Munir Ahmed in April, 2016.
Most of his compensation is in the form of a salary. The executive’s pay last year comprised a salary of Sh39.3 million or Sh3.2 million per month and expense allowances of Sh8.7 million.
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