Speaking during a press conference on
Wednesday, Njoroge said that out of 217 million Sh1, 000 notes, 209.6 million
were returned by the end of the demonetisation process on September 30.
"By
September 30, 209,661,000 pieces had been exchanged and therefore 7,386,000
million pieces are still held by individuals as worthless money," Njoroge
said.
"Demonetisation has been successful because we have
completed it smoothly, with AML/CFT filters firmly in place, and kept out money
whose owners did not want to be subjected to the relevant checks in the system."
He added.
On the same
breath, Dr Njoroge also explained the process through which the old notes will
be destroyed.
"When we
receive banknotes, we punch them and shred them, then compact them into a
briquette. Each briquette the Governor is holding is equivalent to Ksh
1,000,000 in shredded banknotes," Njoroge said.
The regulator also revealed that 3,172 suspicious transactions were flagged
during the demonetisation period.
The Central Bank of Kenya rolled out new generation
Sh1000 note in June 1, with Kenyans given to
September 30 to exchange their old bills at the bank or be stuck with bundles
of useless cash.
The operation was aimed at flushing out
dirty money being hoarded by tax evaders, crooked businessmen and criminal
groups.
The Kenyan DAILY POST.
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