Three suspects, including a Nigerian and a Congolese, were arrested yesterday in Yatta area, Machakos County, with fake 1,000 new notes.
Police said they also recovered chemicals used to make the fake notes from the suspects.
Police officers were tipped that the suspects were circulating the money in Kakumini village. They laid an ambush and caught the suspects.
Officers interviewed said they were alarmed by the suspects’ decision to circulate their fake papers in such a remote area.
“We believe they chose such a place because it is less suspicious,” said Machakos County police boss Farah Maalim.
The incident comes at a time Central Bank of Kenya is conducting a demonetisation process.
The deadline for the exercise is September 30, and the banks’ regulator says it will not be extended.
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So far, CBK authorities said, more than 100 million pieces of old Sh1,000 notes, of 217 million pieces that were in circulation have been collected.
CBK Governor Patrick Njoroge announced on Madaraka Day that CBK was withdrawing the old notes in a bid to counter counterfeits.
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