CBK transfers Sh7.4bn nabbed after demonetisation to State account
Demonetisation of the older series Sh1,000 notes was announced on June 1, 2019, aimed at addressing grave concern of illicit financial flows.
How CBK tracks movement of cash in Kenya economy
Gilbert Mutegi Central Bank of Kenya (CBK) is in the process of demonetising 217.6 million pieces of the Sh1,000 old series notes, which its data shows is currently circulating in the economy. Central Bank Governor Patrick Njoroge said the reason for the demonetisation is to counter the rising cases of illicit financial transactions and […]
NGATIA: Demonetisation plan to reinvigorate economy
Richard Ngatia The Central Bank of Kenya’s bold move to introduce new generation currency and withdraw Sh1,000 banknotes from circulation in the next four months is commendable. The decision will help in the war on corruption, money laundering and illicit trade, which threaten to cripple the economy. Demonetisation has been used in many countries to […]