This archive report was first published on 11 September 2019.
As the deadline for demonetizing old Sh1,000 banknotes draws near, the Central Bank of Kenya (CBK) has urged Kenyans to check with their elderly relatives, particularly mothers and grandmothers, for any savings they may have.
According to CBK, many elderly women are known to save their money in purses, and it's essential to remind them of the September 30 deadline for exchanging the older notes.
CBK Governor Patrick Njoroge had earlier stated that the bank had not received as much of the old notes as anticipated, with only 46 days left before the deadline.
With the deadline fast approaching, there have been reports of fake money in new currency circulating in the market.
The introduction of the new currency on June 1, 2019, was aimed at disrupting the multi-billion shillings fake currency business in Kenya and across the region.
CBK tweeted, 'Our mothers and grandmothers are epic savers. They may have some money around their homes. Please check on them and remind them of the deadline of September 30 for exchanging the older KSh 1000 notes.'
CBK has been on a countrywide sensitization campaign ahead of the September 30 deadline for the demonetization of the old-generation Sh1,000 banknotes.
