Friday, September 6, 2019- As the clock ticks away to the September 30 exchange deadline, Central Bank Governor Dr Patrick Njoroge, has revealed that old notes worth more than Ksh 100 billion were still yet to be swapped by citizens.
The regulator claimed that corrupt individuals still in possession of the old notes, were waiting till the deadline day to bank the illegally acquired money.
Dr. Njoroge pointed out that they had put 800 bank accounts under surveillance in a bid to nab corrupt individuals keen to play the system.
Dr Njoroge warned that those holding illicit cash will find it impossible to launder it into the financial system hence the true picture will only be known on October 1.
“Those notes will be mere papers come October 1. We have enough new notes in circulation,” he added.
The demonetisation of the old notes was announced in June this year following the unveiling of the new notes by President Uhuru Kenyatta.
Njoroge further reiterated that there will be no extension date for those who won’t have made the swap by the given time.
The Kenyan DAILY POST.