CBK Governor Patrick Njoroge on Saturday unveiled what to many Kenyans was a major surprise.
Though CBK claims the withdrawal directive is meant to deal with the menace of counterfeit Ksh. 1,000 notes in the country and beyond borders, there is a bigger issue.
The fight against corruption and wanton siphoning of public resources, at the national and county levels.
“I will not stop until our house has been swept clean. Kenyans want to see the product of investigations and prosecutions. Money must be recovered and culprits must vacate their positions and serve jail terms,” President Uhuru Kenyatta said on Saturday.
Top government officials, politicians and well connected business operatives alleged to hold billions of shillings in cash will be forced to surrender the cash in exchange for the new bank notes.
“The war against corruption is a war we are undertaking with no joy, but one that will continue with no reluctance, ” President Kenyatta said.
In November 2016, Indian PM Narendra Modi announced the withdrawal of 500 and 1,000 rupees notes in an overnight surprise operation that was meant to curb corruption and illegal cash stocking.
His controversial move triggered a liquidity crisis in India for weeks and affected more than 1billion people.
“We must stop praising wealth and start praising hard work,” President Uhuru Kenyatta added.
President Uhuru Kenyatta has taken the war against Corruption to the next level .. All Kshs. 1,000/= are invalidated … Kenyans are asked to return the current notes for new ones …The Corrupt hoarding money have to explain their source of money …. #MadarakaDay
— Donald B Kipkorir (@DonaldBKipkorir) June 1, 2019
Kenya is doing Indian Modi way !
CBK to withdraw Ksh. 1000 note as new generation currency notes unveiled at the 56th #MadarakaDay celebrations. Those of you with truckloads of money in your bedrooms better go bank or do forex.
Patrick Njoroge
Central Bank pic.twitter.com/13Fm8uzQnr— Amedo Shair (@AmedoShair) June 1, 2019
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