The Central Bank of Kenya has recalled the current Ksh.1000 notes and should be out of circulation by 1st October 2019 a move that will those holding billions in cash money going to waste. Among those suspected to hold billions in cash include DP Ruto. with the announcement those with billions in cash will find it difficult to bank the cash. Rashid Echesa is expected to suffer most as whatever he has in cash will be a waste! Tanga tanga allied MPs will benefit as DP will pour the cash fpr them to attend meetings. Khalwale is smiling !
Instead of ARRESTING thieves, UHURU has OUTWITTED them. By changing our CURRENCY, the GUY who withdrew 4 Billion shillings from a WESTLANDS bank in cash has 120 days to SPEND it or BANK it. He has to SPEND 33 million a DAY for the NEXT 4 Months or 4 Million an Hour! "Ksh 1000"
— Mutahi Ngunyi (@MutahiNgunyi) June 1, 2019
Speaking when he unveiled the new legal tender at the Madaraka Day celebrations in Narok, CBK Governor Patrick Njoroge said the move is intended to fight counterfeit money that is currently in circulation.
“All the older Ksh.1000 series shall be withdrawn. All persons have until October 1, 2019 to exchange these notes, after which the older ones will cease to be legal tender,” he said.
He said the CBK has completed the process of generating the new notes and they are already in circulation.
The front of the bank notes bear the image of the Kenyatta International Conference Centre (KICC).
According to Article 231 (4) of the Constitution: “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual.”
A dove is also shown to symbolise a peaceful Kenya, the CBK says adding that the designs are easier to spot for those with vision impairment.
To determine authenticity of the new notes, Kenyans are urged to hold up a note to the light and check for a watermark from both sides.
The watermark is of a lion’s head and a security thread appears as a continuous line.
According to the CBK guidelines: “If you tilt the angle, you will see the security thread changes colour from red to green on all bank notes. The 200, 500 and 1000 bank notes have additional rainbow colours on the thread.”
The golden band on the back shows the note value.
