The government through the Central Bank of Kenya Governor Patrick Njoroge announced on Madaraka Day that notes had started circulation effective 31st May 2018. Njoroge launched the new generation banknotes on Saturday.
All corruption cartels who are rumoured to have huge amounts of money stashed under their pillows and home banks have until 1st October to use their money or they will become obsolete.
“All persons have until October 1 2019 to exchange Ksh 1000 bank notes for the new generation bank notes, after which the older notes will cease to be legal tender” ~ Central Bank of Kenya Governor Patrick Njoroge #MadarakaDay pic.twitter.com/uyD22NKfqB
— Citizen TV Kenya (@citizentvkenya) June 1, 2019
“All persons have until October 1 2019 to exchange Ksh 1000 bank notes for the new generation bank notes, after which the older notes will cease to be legal tender.” Mr. Njoroge said.
To determine the authenticity of the new notes, Kenyans are urged to hold up a note to the light and check for a watermark from both sides. The watermark is of a lion’s head and a security thread appears as a continuous line.
But do you think the government will be able to get the corrupt who have been hiding the money in sacks and under the mattresses? Do we expect any arrests?
Well, according to Gatundu South Member of Parliament Moses Kuria, the change of currency will not amount to much. The lawmaker says that for a change to be there, the new currency should be accompanied by a 4 month amnesty.
He says most people with cash under the pillows were more about the 1 Million CBK rule rather than corruption.
“The change of currency will not amount to much unless it’s accompanied by a 4 month amnesty. Most people with cash under the pillows were more about the 1 Million CBK rule rather than corruption. Tupatieni nafasi turudishe pesa priss,” he tweeted.
The change of currency will not amount to much unless it’s accompanied by a 4 month amnesty. Most people with cash under the pillows were more about the 1 Million CBK rule rather than corruption. Tupatieni nafasi turudishe pesa priss
— Moses Kuria (@HonMoses_Kuria) June 1, 2019