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CBK stands Tough on October Deadline as Mattress Millionaires turn to Nightclubs for illegal exchange

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BY GERALD GEKARA – All eyes will be focused on the DG Patrick Njoroge and the Directorate of Criminal Investigations, as the Central Bank of Kenya tightens its loose ends in banks in abid to have 83% of the old 1000sh notes out of circulation.

Matress millionaires have turned to shady dealings inorder to launder the old 1000 shilling notes.

Churches that have been conducting Harambees since the launch of the new notes have attested to a sharp increase in donations in form of 1000 shilling notes, suspected to be attempts of millionaires to clear their hoarded monies.

As the deadline edges closer to the October 1st date set by the Central Bank, Governor-General Patrick Njoroge is seeking to spread further its drag nets in a bid to trap those who have engaged in fast cash-generating businesses such as night clubs, pubs, and restaurants.

He also added that the CBK is seeking to lias with Dollar merchants to track illegal money, warning them that their business could be at stake should they get involved in illegal transactions.

After CBK’s June 1, announcement on the withdrawal of the 1,000 old generation notes, East African Community (EAC) member states led by Tanzania and Uganda applauded the move by stopping the use of Kenyan currency notes in an effort to cushion their banks from being used to launder stolen money back into Kenya.

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