This archive report was first published on 9 August 2019.
As the deadline for replacing old Sh1,000 notes approaches, Central Bank of Kenya Governor Patrick Njoroge has urged Kenyans to act promptly to avoid a last-minute rush.
Speaking on a breakfast show at Radio Jambo on Thursday morning, Governor Njoroge emphasized that the old Sh1,000 notes will become valueless starting October 1 and that the deadline will not be extended.
He encouraged Kenyans to take advantage of the sufficient new generation notes in circulation and exchange their old currency before the deadline lapses.
‘’Kenyans should desist from the last-minute rush. We have enough new notes in circulation, please go exchange now,’’ Governor Njoroge said.
He also appealed to households to assist elderly people who are fond of keeping the money for a long time to exchange the currency in good time.
CBK’s Head of Communications, Mr Wallace Kantai, outlined the procedure for replacing old notes, stating that amounts of less than Sh1 million can be exchanged at any nearest bank.
He advised individuals to exchange the notes in their respective banks or at CBK by following the laid transaction procedure.
Mr. Kantai also cautioned parents against giving old Sh1,000 notes to their children when they go back to school, as these notes will be null and void by the end of the third term.
He further urged employers who pay their workers in cash to ensure they use the new currency notes.
