Central Bank of Kenya (CBK) has disowned a circular it allegedly sent to commercial banks limiting the issuance of new generation coins to Sh100 per customer.
The circular dated Monday, December 14, 2018, suggested that bank CEOs needed to effect the directive and also educate their clients on the use and legality of the new currency.
The communication, dubbed as Banking Circular No. 9 of 2018 was reportedly signed by CBK acting Director, Currency Operations Department Paul Wanyagi.
"In addition, please inform your customers, members of the public that the new coins are legal tender and can be used for transactions.
"However, since CBK is in the process of undertaking a public awareness campaign, the distribution is being limited to KSh 50 and a maximum of KSh 100 of the new coins equivalent per customer," the circular read in part.
Through a brief statement on Twitter, CBK termed the information as untrue adding that there currently existed no limit cap for those who wished to acquire the coins. The sentiments were also echoed by the bank's Governor Patrick Njoroge.
"Absolutely not true. There are no limits on the amount of coins distributed," CBK tweeted.