CBK Gorvernor Reveals: Kenyans Failed To Return 1K Old Notes Worth 7.38 Billion

CBK Gorvernor Reveals: Kenyans Failed To Return 1K Old Notes Worth 7.38 Billion

The Central Bank of Kenya Governor (CBK) Patrick Njoroge on Wednesday revealed that Kenyans did not manage to return old 1 thousand notes worth Ksh7.38 billion by 30 September.

CBK governor Patrick speaking during a press conference on Wednesday 2 October said that out of 217 million old 1 thousand notes, kenyans manage to return 209.6 million notes by the end of demonization period.

CBK Governor Patrick further elaborated that 209,661,000 pieces of old notes had been exchanged by 30 September while 7,386,000 pieces are still held by individuals as worthless cash.

Njoroge condemned the Kenyans procrastination habit and waiting until the last minute to have the deadline pushed forward saying the tendency was disapprove and kenyans have act when they are supposed to and know what is good for them.

Ngoroge acknowledged that the democratization was successful with the help of CBK and Anti-money laundering agency.

Njoroge stated that the owners of the unreturned old 1 thousand notes did not want to be subjected to the relevant checks in the at system before returning the cash meaning they acquired the case illegally.

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