This archive report was first published on 30 September 2019.
The Central Bank of Kenya (CBK) is set to investigate 900 bank accounts with suspicious deposits as the deadline for demonetizing old Sh1,000 notes draws near, on October 1, 2019.
According to a source, the CBK has identified significant amounts in these accounts, and account holders will be contacted starting next week to explain the source of the money.
Since the demonetization was announced on June 1, 2019, large sums of money had been deposited in different accounts, raising alarm.
CBK Governor Patrick Njoroge had stated during his sensitization tour that there would be no extension of the deadline, and the government had ordered the return of old Sh1,000 notes, citing their use in illegal financial flows.
