The Central Bank of Kenya on Saturday unveiled new bank notes. The move has already started eliciting mixed reactions from different factions.
Raila Odinga Junior has said that the new notes will assist in the fight against hoarding.
He, however said the move to remove the faces of people on the notes is a good idea from the government. He also said that he doesn’t care about the new design of the notes.
“I don’t really care much for the design of the new bank notes. It’s in line with our constitution and the removal of people’s images from the notes is welcome. Furthermore those hoarding Ksh will be forced to bring back to circulation,” he said.
CBK Governor Dr Patrick Njoroge said there are plans to withdraw all the Sh1000 old notes from the market. He said that the move was reached to curb increased cases of money laundering among others.
“We have assessed the grave concern that our large bank notes, particularly the older Sh1,000 series, are being used for illicit financial flaws in Kenya and also other countries in the region. To deal with those concerns, all the older Sh1,000 series shall be withdrawn by a Gazette Notice dated May 31, 2019,” he said during the Madaraka Day Celebrations.