Tuesday September 24, 2019-Central Bank of Kenya (CBK) Governor, Dr Patrick Njoroge, has asked Narok farmers to be careful with rich tycoons who are buying wheat in cash.
In a statement on Tuesday, Dr Njoroge said CBK is concerned with the spike in wheat cash buyers where rogue traders are using old Sh 1000 notes to buy the commodity.
Njoroge also maintained there will be no extension of the September 30 deadline for the phase-out of the Sh1000 note.
Kenyans have until September 30 to discard the old Sh1, 000 notes. But the Sh50, Sh100, Sh200 and Sh500 notes will be phased out slowly.
The immediate phase-out of the Sh1, 000 note, according to Dr Njoroge, will help in dealing with cases of counterfeits and money laundering, which has impacted the economy negatively.
Among politicians who are using old sh 1000 notes to buy wheat in Narok include Deputy President William Ruto , Nairobi Governor , Mike Sonko , Kiambu Governor , Ferdinand Waititu and former Nairobi Governor,Dr Evans Kidero.
The Kenyan DAILY POST