NAIROBI, Kenya, Aug 16 – Central Bank of Kenya Governor Patrick Njoroge has admitted the presence of fake new currency in the economy.
Speaking during the start of a sensitization campaign of the new notes in Kwale county, Njoroge urged Kenyans to memorize the unique features found on the new notes to avoid becoming victims of counterfeit money.
His statement comes barely two months after the introduction of the new generation currency bank notes by the regulator.
Kenyans are expected to exchange the old 1000 notes for new ones by 1st October, a move meant to enhance the war on graft and money laundering.
Njoroge however says that while they had expected a massive return of the old notes, the amount remains underwhelming, some 46 days to the deadline.