In five days’ time, the CBK will invalidate the old Sh.1000 note which is now synonymous with graft. It is feared that proceeds of graft stored in people’s homes are in this currency which is now banned.
And it is expected that the recalled notes will be burned in Kariobangi North on 1st October…a day after demonetization.
This is the first time Kenya has recalled legal tender since independence.
The CBK director now says it has fingered accounts laundering the new cash and will deal with the perpetrators. The CBK has spent quite a chunk of its budget in a campaign to sensitive Kenyans to return the old cash…