In the recent past, operations by the Special Crimes Prevention Unit have have reportedly seen huge amounts of fake currency nabbed. But if the money is indeed true, why don’t Kenyans come across a few notes in circulation?
In October 2018, detectives led by flying squad head Musa Yego raided a house in Westlands area where they arrested two Chadian nationals and a Kenyan who were found with over Ksh.1billion in fake currency.
Before the dust could settle, Special Crimes Prevention Unit seized a huge cache of fake currencies, foreign and local, that were hidden in a residential house in Ruiru and reported to the press that the fake currency amounts to Sh32 billion and did not reveal how they reached such a figure.
On Tuesday morning, business went to a stand still at Barclays bank hall in Nairobi when detectives raided the safes that were believed to be holding more than Ksh17 Billion fake currency.
The argument:
However the question Kenyans should be asking themselves should be: If there was that much fake currency around,then why dont we encounter it more frequently in circulation.
Assuming its all in denominations of one thousand notes, this 17 billion equals 8% of all 1k notes in circulation (Sh.210b as per CBK data). Another haul in Ruiru was Sh.32b in multiple currencies of foreign and shillings. If only Sh 3 billion in Kenya shillings, we talking about over 10%, one out of every ten 1k notes?
What I’m I missing?
Could this be a cover for confiscating a certain politician’s cash hoard? Just wondering.
Also how doesn’t a bank not realize that there is a safe full of fake currency? That has to be a walk in safe.— wiseguy (@worldwidesuave) March 19, 2019
Ruiru cash was authentic and a story had to be placed on media houses that the money are fake. Someone is crying, his money is being taken. https://t.co/NmaPBgvDil— AFRICAN (@TEAMNASA_KE) March 19, 2019