Political Analyst Mutahi Ngunyi has congratulated President Uhuru Kenyatta’s move launching the new currency and giving a deadline which is on October 1, 2019, approximately 122 days.
According to Mutahi Ngunyi, President Kenyatta has done one of the most favourable acts of bringing down the Cartels in Kenya. By setting up a deadline it will now be easy for all those with bulk money to be caught.
“Instead of ARRESTING thieves, UHURU has OUTWITTED them. By changing our CURRENCY, the GUY who withdrew 4 Billion shillings from a WESTLANDS bank in cash has 120 days to SPEND it or BANK it. He has to SPEND 33 million a DAY for the NEXT 4 Months or 4 Million an Hour! “Ksh 1000”
Instead of ARRESTING thieves, UHURU has OUTWITTED them. By changing our CURRENCY, the GUY who withdrew 4 Billion shillings from a WESTLANDS bank in cash has 120 days to SPEND it or BANK it. He has to SPEND 33 million a DAY for the NEXT 4 Months or 4 Million an Hour! "Ksh 1000"
— Mutahi Ngunyi (@MutahiNgunyi) June 1, 2019
He further noted that within the 120 days the person who withdrew Ksh 4billion will have to find out a way of spending the money or just give up.
The new currency was launched on the Madaraka Day celebration on 1st January which saw the Central Bank of Kenya Governor Patrick Njoroge together with President Uhuru Kenyatta Precede over the launch ceremony.
According to CBK Governor Njoroge, the exchange of the old currency to new currency begins effective immediately and all persons in Kenya have up to October 1st 2019 to do so.
He further added saying that, “We have assessed the grave concern that our arge banknotes—particularly the older Sh1,000 series—are being used for illicit financial flows in Kenya and also other countries in the region.”
“More recently we have seen the emergence of some counterfeits. These are grave concerns that would jeopardise proper transactions and the conduct of commerce in our currency.”
All notes bear the image of the Kenyatta International Convention Centre (KICC) and have each of the Big Five animals.