This archive report was first published on 1 September 2019.
The Central Bank of Kenya (CBK) has announced plans to destroy all old Sh1,000 banknotes after October 1st, 2019, when they will cease to be legal tender.
As of June, CBK had asked Kenyans to exchange their old Sh1,000 banknotes for new currency notes before the deadline.
CBK Governor Patrick Njoroge stated, "All the older Ksh.1000 series shall be withdrawn.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."
Once the deadline passes, the bank will shred and burn the notes in Nairobi's Kariobangi North area, according to The Star.
Collected notes will be transported to CBK headquarters, where they will be verified and stored in a secure room under the supervision of trustees and police officers.
CBK communications officer Wallace Kantai confirmed that old notes are shredded, stating, "The notes would be shredded just like old notes that are destroyed and replaced with new ones."
