Is SAKAJA among corrupt politicians hiding billions under their mattresses? See what he said about making Sh 1,000 obsolete from October 1

Thursday June 13, 2019 - Nairobi Senator, Johnston Sakaja, has poured cold water on the Government’s move to make the old Sh 1,000 note obsolete from October 1st.

During Madaraka Day celebrations on June 1st, Central Bank of Kenya (CBK) introduced new notes and announced plans to phase out the old Sh 1,000 note.

When making the announcement, CBK Governor, Dr Patrick Njoroge, said the reason for removing Sh 1,000 note from circulation is because it is being used for illicit financial activities in Kenya and outside the country.

“We have assessed the grave concern that our large banknotes, particularly the older one thousand shillings series, are being used for illicit financial flows in Kenya and also other countries in the region," Njoroge said.

But appearing on Jeff Koinange Live (JKL) on Wednesday, Sakaja said that corrupt individuals with the old notes are already up and looking for ways to convert the same into new notes before it is too late. 

He noted that the corrupt individuals will not just sit there and wait for the deadline. 

“I do not think the October 1st deadline on old Sh1,000 notes will weed out corrupt individuals.”

“Those who are smart enough to have cash money in their houses will look for smart ways to dispose of it," Sakaja said.


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