This archive report was first published on 8 July 2019.
The Central Bank of Kenya (CBK) is facing a legal hurdle in its plan to roll out new currency after failing to comply with the law. According to the Statutory Instruments Act of 2013, CBK was required to send three legal instruments to Parliament for tabling before the rollout. However, Parliament has confirmed that it has not received any of the instruments.
On June 27, National Assembly Clerk Michael Sialai wrote to activist Okiya Omtatah, stating that CBK had yet to transmit the instruments to register and cause tabling in the National Assembly. The instruments include Legal Notice No 235 of December 7, 2018, Legal Notice No 72 of May 31, 2019, and Legal Notice No 4849 of May 31, 2019.
CBK's failure to comply with the law has led to a lawsuit by activist Okiya Omtatah, who has sued the bank for failing to adhere to the law while issuing new currency. Last week, Chief Justice David Maraga set up a three-judge bench to hear the case challenging the issuance of the new currency notes.
Published on July 8, 2019, by The Standard.
