Kenyans bid goodbye to old KSh 1000 notes, usher in new generation currency ▷ Kenya News

If you still have bundles of old KSh 1000 notes stashed anywhere else other than the bank, then you should know these notes will be rendered mere pieces of paper effective September 30, 2019.

The old KSh 1000 note will cease to be a legal tender in Kenya on Monday midnight and as per the deadline set by the Central Bank of Kenya (CBK), the regulator, for withdrawal of the old currency from circulation.

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The old KSh 1000 note will cease to be a legal tender in Kenya effective September 30, 2019, at midnight. It will be replaced by new generation currency. Photo: Citizen Digital.
Source: UGC

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TUKO.co.ke on Monday morning learnt business people were no longer accepting the old denomination from customers, especially in Kisumu county where M-Pesa agents were turning away clients with the now practically worthless currency.

"Personally today (Sunday) I have not made any transactions with the old notes, from M-pesa to any shop in Kisumu....They have been rejected..I had to go get the new notes from the bank," said Emmanuel Anyiri, one of the residents of Kisumu.

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Central Bank has in the recent days been running an aggressive campaign aimed at educating Kenyans on the new generation currency and also constantly reminding everyone about the deadline for exchanging the old notes.

The CBK governor Patrick Njoroge had also urged financial institutions to be extra vigilant and watch out for any abnormal transactions as deadline for exchanging KSh 1000 notes approached.

Central Bank of Kenya (CBK) boss Ppatric Njoroge had equally warned lenders against any attempt to circumvent the Anti-Money Laundering and Combating the Financing of Terrorism. Photo: CBK.
Source: UGC

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Njoroge equally advised employers who paid salaries and wages in cash to start paying their employees using the new KSh 1,000 notes.

He reminded the employers their workers will not be able to use the old KSh 1,000 cash past September 30.

The old KSh 1000 notes will be phased out and replaced with the new generation currency which was unveiled on June 1, 2019.

All Kenyans had until end of September 2019 to exchange the notes, after which the new ones will fully take over.

According to the CBK, the large old notes were being used for illicit financial flows across the country and this partly informed the decision to withdraw the old Ksh 1000 denomination. Photo: CBK.
Source: Twitter

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