CBK dismisses claims of restricting issuance of new coins

Central Bank of Kenya-CBK has dismissed claims that it has restricted the issuance of new coins to 100 shillings per customer.

Through his Twitter account Tuesday, CBK governor Patrick Njoroge termed the claims as false.

Governor Njoroge said there is absolutely no limit on the distribution of the new generation coins.

He was responding to an article by a local daily which wrote that the bank had directed bankers to cap the issuance of new coins to 100 shillings per customer amid a hitch over public awareness.

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The CBK gazetted the new Sh1, Sh5, Sh10 and Sh20 coins as legal tender last year December, replacing portraits of former presidents with images of giraffe, rhino, lion and elephant.

This is in line with the 2010 Constitution requirement that Kenyan currency cannot bear the image of an individual.

The new generation coins will continue the tradition of depicting an aspect that best describes Kenya.

They bear no symbols or portraits of persons as outlined in the 2010 constitution.

The president said the new generation coins will continue the tradition of depicting an aspect that best describes Kenya.

The Sh1 coin depicts the image of a giraffe while the Sh5 coin bears the image of a rhino. The Sh10 coin bears the image of a lion while the Sh20 coin has the image of an elephant.

“Indeed, the choice of the main theme “Kenya Reborn and Prosperity” is a true reflection of the spirit of our Constitution and Kenya’s development goals as outlined in Vision 2030,” said President Kenyatta when he spoke at the unveiling ceremony at the Central Bank of Kenya.

The President said the new generation coins honour the wishes of the people of Kenya in regard to their national currency, as expressed in the Constitution.

Also read http://www.kbc.co.ke/president-kenyatta-launches-new-generation-coins/

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