Central Bank of Kenya (CBK) through the Governor Patrick Njoroge has issued a new directive on exchange of bulk old notes into the new currency notes.
In a press briefing on Thursday, Mr Njoroge directed that those who wish to exchange more than five million old one thousand notes should first seek permission from the CBK who will approve the transaction.
"Then those of us that have amounts more than five million, again these are the bulk exchanges, they will need to get in touch with the Central Bank, get the endorsement and then of course after that the transaction or the conversion can be done," he said.
However, he cautioned that the whole process is a risky one as exchanging such an amount of money could land someone in problems from thugs.
"You can imagine what would happen if people get to know that you are taking to a bank an extra amount of money. Things would be kind of messy," he said.
He advised that anybody who wants to make such big exchanges should consult with Central Bank for proper arrangements of where the transaction will be done can be done.