Kenyans have until October to exchange old Ksh.1K notes: CBK

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Kenyans have until October to exchange old Ksh.1K notes: CBK
By Citizen Reporter For Citizen Digital
time updated Published on: June 1, 2019 14:13 (EAT)
Kenyans have until October to exchange old Ksh.1K notes: CBK

The Central Bank of Kenya has said old Ksh.1000 notes should be out of circulation by October 1 this year.

Speaking when he unveiled the new legal tender at the Madaraka Day celebrations in Narok, CBK Governor Patrick Njoroge said the move is intended to fight counterfeit practises.

“All the older Ksh.1000 series shall be withdrawn. All persons have until October 1, 2019 to exchange these notes, after which the older ones will cease to be legal tender,” he said.

He said the CBK has completed the process of generating the new notes and they are already in circulation.



The front of the bank notes bear the image of the Kenyatta International Conference Centre (KICC).


According to Article 231 (4) of the Constitution: “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual.”

A dove is also shown to symbolise a peaceful Kenya, the CBK says adding that the designs are easier to spot for those with vision impairment.

To determine authenticity of the new notes, Kenyans are urged to hold up a note to the light and check for a watermark from both sides.

The watermark is of a lion’s head and a security thread appears as a continuous line.

According to the CBK guidelines: “If you tilt the angle, you will see the security thread changes colour from red to green on all bank notes. The 200, 500 and 1000 bank notes have additional rainbow colours on the thread.”

The golden band on the back shows the note value.

Good move by CBK to help fight corruption.

Engineer levi Devin said:

Good move by CBK to help fight corruption.

Click to expand...

The corrupt dont keep money in Ksh. Even NYS thugs withdraw their loot in dollars at banks in westalands.
No change realy, the face of thief number 1 Mzee kenyatta is still on the notes

Mkikuyu- Akili timamu said:

The corrupt dont keep money in Ksh. Even NYS thugs withdraw their loot in dollars at banks in westalands.
No change realy, the face of thief number 1 Mzee kenyatta is still on the notes

Click to expand...

I differ , so much cash has been looted for political purposes and handouts, it's usually kept in the houses as KE notes..
after the first NYS scandal detectives started tracing deposits in banks , and banks these days will be very wary of accepting unknown sources of huge cash... politicians have been keeping cash in the houses...sitaki kutaja majina

vulcan said:

I differ , so much cash has been looted for political purposes and handouts, it's usually kept in the houses as KE notes..
after the first NYS scandal detectives started tracing deposits in banks , and banks these days will be very wary of accepting unknown sources of huge cash... politicians have been keeping cash in the houses...sitaki kutaja majina

Click to expand...

Nope, they prefer to keep in dollars then exchange them for KES at our very liberal uncontrolled Bureaus who dont ask where you got the dollars..The next day they give to loot to churches and in rallies.
That is why DCI cant understand how these chaps have so much money with literally zero withdrawals from banks

Mkikuyu- Akili timamu said:

Nope, they prefer to keep in dollars then exchange them for KES at our very liberal uncontrolled Bureaus who dont ask where you got the dollars..The next day they give to loot to churches and in rallies.
That is why DCI cant understand how these chaps have so much money with literally zero withdrawals from banks

Click to expand...

why would they need to keep it in dollars and incur the extra costs in losses from the conversions ? also considering the bulkiness and the logistics.. the ones who convert to dollars are the ones who want to stash it in foreign accounts..

vulcan said:

why would they need to keep it in dollars and incur the extra costs in losses from the conversions ? also considering the bulkiness and the logistics.. the ones who convert to dollars are the ones who want to stash it in foreign accounts..

Click to expand...

They dont ask for bribes or steal money in Ksh..the do it in $$..That is why you see those NYS/Ruaraka land thugs withdrawing in dollar not kes.
Dollar is less bulky and easy to deal with and when you want to make it rain at rallies or churches you just hit the exchange and Make it Rain

Engineer levi Devin said:

Good move by CBK to help fight corruption.

Click to expand...

How?

Mkikuyu- Akili timamu said:

They dont ask for bribes or steal money in Ksh..the do it in $$..That is why you see those NYS/Ruaraka land thugs withdrawing in dollar not kes.
Dollar is less bulky and easy to deal with and when you want to make it rain at rallies or churches you just hit the exchange and Make it Rain

Click to expand...

You seem experienced in this sketchy lifestyle of politicians. Are you a "mtu wa mkono" for a politician?

Mkikuyu- Akili timamu said:

The corrupt dont keep money in Ksh. Even NYS thugs withdraw their loot in dollars at banks in westalands.
No change realy, the face of thief number 1 Mzee kenyatta is still on the notes

Click to expand...

Wewe punguza ujinga..

1.) That's a statue..not a portrait.
2.) Most of the stolen cash is in kenyan denomination(especially the ksh1000 note) and not in foreign currencies..go to any forex exchange na utajua there are limits to foreign currencies that can be bought. Same applies to banks.
3.) This is the best news yet on the war against corruption because it will force those with the stolen loot to get this cash back into circulation.. furthermore any deposit above 1million will raise eyebrows not only with the banks but with CBK and you will be forced to declare where you obtained that cash from.

This is a huge step for Kenya regardless of your hate and bigotry. Punguza wivu na povu saa zingine. Sio ku comment ujinga kila wakati kwa sababu una data

Engineer levi Devin said:

Good move by CBK to help fight corruption.

Click to expand...

CBK targets corrupt, renders old Sh1,000 note obsolete in October
In Summary
• CBK governor Patrick Njoroge announced the notes were released on Friday, May 31.

• Njoroge said to curb illicit finance, all old Sh1,000 series notes have been withdrawn by a Gazette notice dated May 31


The new generation bank notes are now in circulation.

During Madaraka Day celebrations on Saturday, CBK governor Patrick Njoroge announced the notes were issued on Friday, May 31 via a Gazette notice.


The new notes are now legal tender.

Njoroge said to curb illicit finance, all old Sh1,000 series notes have been withdrawn by a Gazette notice dated May 31 and Kenyans have until October 1 to exchange the older notes for newer ones.

"We have assessed the grave concern that our arge banknotes—particularly the older Sh1,000 series—are being used for illicit financial flows in Kenya and also other countries in the region," he said.

"More recently we have seen the emergence of some counterfeits. These are grave concerns that would jeopardise proper transactions and the conduct of commerce in our currency."

All notes bear the image of KICC.

They also have each of the Big Five animals.

Njoroge said, "The new banknotes bear a significant aspect of our nation, and like the coins, will serve as a means of passing knowledge, conserving culture and promoting our global uniqueness."

" All bank notes bear the image of Kenyatta International Conference Centre, one of the most iconic and recognisable landmarks in our country. The banknotes also embody each of the big five; nyati, chui, kifaru, simba, and ndovu."

Each note has a unique theme.

Sh50 is for green energy, Sh100 for agriculture, Sh200 social services, Sh500 for tourism and Sh1,000 for governance.

Following the passing of the 2010 Constitution, the CBK was mandated to spearhead the production and roll out of the new currency notes.


The Constitution prohibits the use of a person’s portrait on currencies meaning the upgrade is expected to have new features.

Notes currently in circulation have the images of first President Jomo Kenyatta and his successor Daniel Arap Moi.

The new-look notes are fashioned to enable the visually-impaired to use them.

asvptx said:

Wewe punguza ujinga..

1.) That's a statue..not a portrait.
2.) Most of the stolen cash is in kenyan denomination and not in foreign currencies..go to any forex exchange na utajua there are limits to foreign currencies that can be bought. Same applies to banks.
3.) This is the best news yet on the war against corruption because it will force those with the stolen loot to get this cash back into circulation.. furthermore any deposit above 1million will raise eyebrows not only with the banks but with CBK and you will be forced to declare where you obtained that cash from.

This is a huge step for Kenya regardless of your hate and bigotry. Punguza wivu na povu saa zingine. Sio ku comment ujinga kila wakati kwa sababu una data

Click to expand...

1) All the note bare the statue of kenya's Thief number 1

2)There are no limits to exchanging money in a forex in kenya,And they dont ask you any quetion. You laughed at Magufuli deploying Army to Exchage shops yet you dont know that kind of liberal use of forex exchange shops is the root of money laundring and corruption

3) I am yet to see any result in the so called fight aganist corruption..The only thiefs who keep their corrupt money in kes are traffic police😂😂😂

Sinister said:

☰


Kenyans have until October to exchange old Ksh.1K notes: CBK
By Citizen Reporter For Citizen Digital
time updated Published on: June 1, 2019 14:13 (EAT)
Kenyans have until October to exchange old Ksh.1K notes: CBK

The Central Bank of Kenya has said old Ksh.1000 notes should be out of circulation by October 1 this year.

Speaking when he unveiled the new legal tender at the Madaraka Day celebrations in Narok, CBK Governor Patrick Njoroge said the move is intended to fight counterfeit practises.

“All the older Ksh.1000 series shall be withdrawn. All persons have until October 1, 2019 to exchange these notes, after which the older ones will cease to be legal tender,” he said.

He said the CBK has completed the process of generating the new notes and they are already in circulation.



The front of the bank notes bear the image of the Kenyatta International Conference Centre (KICC).

View attachment 1114224
According to Article 231 (4) of the Constitution: “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual.”

A dove is also shown to symbolise a peaceful Kenya, the CBK says adding that the designs are easier to spot for those with vision impairment.

To determine authenticity of the new notes, Kenyans are urged to hold up a note to the light and check for a watermark from both sides.

The watermark is of a lion’s head and a security thread appears as a continuous line.

According to the CBK guidelines: “If you tilt the angle, you will see the security thread changes colour from red to green on all bank notes. The 200, 500 and 1000 bank notes have additional rainbow colours on the thread.”

The golden band on the back shows the note value.

Click to expand...

Mdororo huo 😀😀😀

Hii noma kwa wale waliofukia hela maana aidha wazitumie kwa mkupuo au wazitie kiberiti.

Mkikuyu- Akili timamu said:

1) All the note bare the statue of kenya's Thief number 1

2)There are no limits to exchanging money in a forex in kenya,And they dont ask you any quetion. You laughed at Magufuli deploying Army to Exchage shops yet you dont know that kind of liberal use of forex exchange shops is the root of money laundring and corruption

3) I am yet to see any result in the so called fight aganist corruption..The only thiefs who keep their corrupt money in kes are traffic police😂😂😂

Click to expand...

In forex exchanges in Kenya you have to fill forms when you take dollars, i have experienced that in all ive been to.
Usually Kenyans keep KES in their house, dollars are cumbersome to exchange. Buyer looses value when depositing back to his bank account. In the CID raids recently in homes of corrupt individuals, they usually find Kenya shillings.

But i dont expect you to ever say anything positive about Kenya. Povu itakumaliza roho.

Kifaru_07 said:

In forex exchanges in Kenya you have to fill forms when you take dollars, i have experienced that in all ive been to.
Usually Kenyans keep KES in their house, dollars are cumbersome to exchange. Buyer looses value when depositing back to his bank account. In the CID raids recently in homes of corrupt individuals, they usually find Kenya shillings.

But i dont expect you to ever say anything positive about Kenya. Povu itakumaliza roho.

Click to expand...

Boss hide your poverty, you have never been to a forex shop in kenya..There is absolutely no forms filled..
Tanzania was the same but they are now demanding passports as you laugh at magufuli

Kifaru_07 said:

In forex exchanges in Kenya you have to fill forms when you take dollars, i have experienced that in all ive been to.
Usually Kenyans keep KES in their house, dollars are cumbersome to exchange. Buyer looses value when depositing back to his bank account. In the CID raids recently in homes of corrupt individuals, they usually find Kenya shillings.

But i dont expect you to ever say anything positive about Kenya. Povu itakumaliza roho.

Click to expand...

Haha anatia huruma huyu. Anafikiria kenya ni jungle law kama kwao. I understand he can't comprehend that kenyans keep money in our denominations coz their currency is so worthless those that steal and hide cash will require huge spaces

asvptx said:

Haha anatia huruma huyu. Anafikiria kenya ni jungle law kama kwao. I understand he can't comprehend that kenyans keep money in our denominations coz their currency is so worthless those that steal and hide cash will require huge spaces

Click to expand...

Jungle law is where Fake gold and fake dollars zimetapakaa kila mahali. FAKE DAMS FAKE MEDICINE FAKE DOCTORS etc and alshabaab everywhere

Mkikuyu- Akili timamu said:

Jungle law is where Fake gold and fake dollars zimetapakaa kila mahali. FAKE DAMS FAKE MEDICINE FAKE DOCTORS etc and alshabaab everywhere

Click to expand...

hehe wewe ni mjinga kiukweli tu. Nimekujibu kwa sababu #UCLFinal is boring at the moment.

asvptx said:

Wewe punguza ujinga..

1.) That's a statue..not a portrait.
2.) Most of the stolen cash is in kenyan denomination and not in foreign currencies..go to any forex exchange na utajua there are limits to foreign currencies that can be bought. Same applies to banks.
3.) This is the best news yet on the war against corruption because it will force those with the stolen loot to get this cash back into circulation.. furthermore any deposit above 1million will raise eyebrows not only with the banks but with CBK and you will be forced to declare where you obtained that cash from.

This is a huge step for Kenya regardless of your hate and bigotry. Punguza wivu na povu saa zingine. Sio ku comment ujinga kila wakati kwa sababu una data

Click to expand...

Sasa ndio nimeelewa asante kwa kuexplain vizuri. Kumbe hii ndio crytonite ya corrupt people. Wacha sisi yetu ni macho tu, i am getting hopeful for our country.