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Tuesday September 17,2019-As September 30th deadline looms for the exchange of the old Sh 1000 notes, amorphous companies have emerged that are circumventing the laid down financial procedures and they are now laundering the loot on behalf of corrupt millionaires and billionaires.

On June 1, during Madaraka Day Celebrations at Narok Stadium, Central Bank of Kenya(CBK) unveiled the new generation banknotes as part measures to curb fraud and money laundering.

The new notes were unveiled by CBK Governor Patrick Njoroge who also announced that the old Sh 1000 notes will be withdrawn effective October 1 when they will cease to be legal tender.

Njoroge said CBK is increasingly concerned by the emergence of counterfeits which jeopardize proper transactions and the conduct of commerce in Kenya’s currency.

The CBK boss also outlined how Kenyans with huge amounts of money can get the new notes.

“’People who want to exchange the old notes for a value of less than Ksh 1 million can do so at their bank branches. At the same time, people without bank accounts can exchange at any branch of any bank, or even at the CBK. But they will need to have official identification,” Njoroge said.

“Those who want to exchange amounts between Ksh 1 million and Ksh 5 million will need to go to their own banks,” Njoroge added.

The CBK chief said those who want to exchange five million and above must do it at CBK.

Following Njoroge’s tough orders, cartels have formed a group and opened briefcase companies like Aspira Company that is cleaning money on behalf of rich tycoons who do not want to be traced by CBK or Directorate of Criminal Investigations (DCI).

Aspira in its website says “It provides product financing, allowing you to buy a wide range of goods now and pay later within 12 months,”

The company is now buying goods from different hypermarkets in Kenya and lending them to unsuspecting Kenyans.

All they need is your Identity Card and to ensure you have not been blacklisted by the Credit Reference Bureau (CRB).

The company has already pitched tents in Roysambu, Kahawa West , Kahawa Sukari and other middle level estates.

They are offering a wide range of electronics and household items on credit, repayable in 12 months with no deposit required.

The company brags that it has headquarters in Mauritius, which is a safe haven for money laundering.

It is also not clear whether the company is paying tax as required by Kenya Revenue Authority (KRA).

The Kenyan DAILY POST
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