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After Monday, These Kenyan 1000 Notes Will Become Useless

Kenyans have until the close of business Monday to return their old 1000 currency banknotes. The notes, which prominently feature a likeness of former president Jomo Kenyatta will become illegal tender starting Tuesday.

A currency dealer counts Kenyan shillings at a money exchange bureau on September 19, 2018 in the Kenyan capital Nairobi. AFP/Getty Images

Newer, smaller notes were launched on June 1 this year by the central bank and Kenya’s President Uhuru Kenyatta at the Narok stadium during the Madaraka day celebrations.

One of the objectives of the printing of new currency was in fulfillment of the constitutional requirement as well as mop up the currency to clamp down on money laundering and fake currency in circulation.

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During the launch of the notes, the CBK boss Dr. Patrick Njoroge stated the new banknotes bear features that make them more accessible to the visually, impaired members of our society.”

Central Bank of Kenya (CBK) Governor Patrick Njoroge displays some of the new look Kenyan currency notes on June 3, 2019 during a press conference at his office in Nairobi. AFP/Getty Images

He further noted that “Our old 1000 notes were  being used for illicit financial flows in Kenya and also other countries in the region, more recently we have seen the emergence of some counterfeits. These are grave concerns that would jeopardize proper transactions and the conduct of commerce in our currency.”

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Written by How Africa

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