MT KENYA MPs no longer respect UHURU – See how they mocked him after CBK announced of phasing out old Sh 1000 note from October 1

Monday June 3, 2019-A section of MPs from Mt Kenya region have laughed off the government decision of printing new currency and phasing out old Sh 1000 note from October 1, 2019.

Last week, Central Bank of Kenya(CBK) Governor Patrick Njoroge said the current Sh1,000 note would cease to be legal tender.

The move is seen as targeting illegal wealth held outside the formal economy, which fuels corruption and other illegal activity and had not been declared for tax purposes.

However some of Deputy President William Ruto‘s allies have claimed that the directive might be targeting them but welcomed the move saying it will end speculations.

“Some people have been saying that Ndindi Nyoro has stashed a lot of money in sacks in his house. I want this period [before new bills are introduced] to be reduced to even two days so that people can know that Ndindi has no money in sacks and thieves will be revealed openly,” Kiharu MP Ndindi Nyoro said.

Kikuyu MP Kimani Ichung'wa, who also chairs the Budget and Appropriations Committee, pushed for a review of the four-month window.

“The Central Bank governor said we have four months up to October. In my opinion, that is too far away. Kenya's financial year starts on July 1 so if it is possible, the president should make that the deadline for the validity of Sh1,000 notes,” he said.

The Kenyan DAILY POST

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