The central bank of Kenya governor Patrick Njoroge has launched a countrywide drive to sensitize citizens on the coming deadline of phasing out the old Ksh 1,000 banknotes banknotes.
In a move by the government to curb counterfeiting and illicit financial flows in the country, the old old Ksh 1,000 banknotes are expected to cease circulation as from 1st October 2019.
Njoroge while meeting Kwale governor Salim Mvurya at his Mvindeni office within Ukunda, said that CBK is also upgrading its systems with an aim of devolving key services required by the Counties.
The CBK governor addressed the first countrywide road show on the campaign to sensitize Kenyans dubbed ‘Badilisha Noti Za Elfu Moja Sasa’ in Kwale at Ukunda after holding talks with Kwale governor.
Mvurya and Njoroge deliberated on strengthening working relationships between the 47 devolved units and the CBK, and also on the ongoing campaign on the use of the new Kenyan currency.
Governor Mvurya assured Dr. Njoroge that the County Government of Kwale will fully support CBK in its efforts to inform the general public on the coming deadline of phasing out the old Ksh 1,000 banknotes
Njoroge urged Kenyans to take advantage of the remaining period before October, 1, 2019 to change old 1000 notes with the new ones.
He said that the amount of money targeted by the central bank of Kenya that was to be returned from circulation has not yet been reached although they have not counted them.
“We will know how much will have been returned once the exercise is over by end of September this year. We have a problem of people waiting until the last minute which is not good,” he said.
On the issue of extending the period, Njoroge said they will not do that at all and warned that those who will not have done the exchange of the 100 notes they will be rendered useless.
“Those notes after end of September 2019, they will be papers that cannot be used anywhere,” he warned.
Njoroge also asked Kenyans to be careful with the trend of fake notes that criminals make to confuse citizens saying that everyone has to be able to differentiate between the genuine and fake currency to be on the safe side.
“The features of our currency are very unique and we have explained time and again about it, just touch, look at it and turn it over,” he added.