I won't resign, says Kenya's election umpire Chebukati

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Maraga said the panel of judges had not yet had time to write a "reasoned and well-considered judgement" since hearings closed on Tuesday night, so he only read out the court decision, promising a full ruling later.

The election commission had declared incumbent President Uhuru Kenyatta the victor of last month's election.

Kenya's Supreme Court has annulled the result of last month's presidential election, citing irregularities, and ordered a new one within 60 days.

"When there is a movement in the market beyond a certain limit, we have to stop trading to allow the market to process the information", Odundo said.

Kenyatta said his primary message was for all Kenyans to keep the peace. "That is the nature of democracy".

Worldwide observers from the European Union and Carter Center, among others, had called the election credible.

The court's decision does not quell fears of the violence that has dogged Kenya's elections.

There were also no signs of tension in Kenyatta's ethnic strongholds, while supporters of opposition leader Raila Odinga celebrated peacefully in the streets in areas that had voted for him.

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However, in a dramatic and widely unexpected turn of events, the Supreme Court agreed with the opposition coalition. Kenyatta's father, Jomo Kenyatta, was the nation's founding president who had a long-running rivalry with Oginga Odinga, who failed like his son in efforts to secure the top job.

With Kenyatta receiving more than 50 percent of the votes, the contest was not forced into a second round of voting.

After Kenya's Supreme Court voided his electoral win, President Uhuru Kenyatta said he disagrees with the ruling but will respect it.

"This is a historic day for the people of Kenya and by extension for the people of the continent of Africa", said Odinga.

For his part, the anonymous African diplomat said Kenya could see a rush of other dissatisfied candidates who lost out in governor, senator or MP races turn to the court with election grievances following the ruling.

The commission, he said, would make internal changes ahead of the repeat poll.

Maraga said this had compromised the "integrity of the entire presidential election".

Mr Chebukati said the commission would proceed to organise a schedule for fresh presidential election following the Supreme Court's ruling that nullified President Uhuru Kenyatta election.

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