An estimated 100 million pieces of the old 1,000 Kenyan Shillings note have been returned to the Central Bank of Kenya ahead of the 30th of September 2019 deadline and translates to around 50 percent of the total number of old 1,000 Kenyan Shillings notes in circulation.
People living in Kenya have exactly 13 days to return the remaining 117 million pieces of the old 1,000 Kenyan Shillings notes which will become useless from the 1st of October 2019.
The Governor of the Central Bank Of Kenya; Patrick Njoroge, made it known that individuals holding on to illicit cash will find it impossible to bring it back into the financial system.
On the 4th of June 2019, the Central Bank Of Kenya (CBK) issued guidelines to aid the replacement of the old 1,000 Kenyan Shillings notes, which accounted for 83 percent of the 540 billion Kenyan Shillings in circulation or 217 billion Kenyan Shillings.
The 500 Kenyan Shillings notes accounted for 5.9 per cent, the 200 Kenyan Shillings notes accounted for 4.2 percent, the 100 Kenyan Shillings notes accounted for 4.8 percent while the 50 Kenyan Shillings notes accounted for 1.9 percent.
The Central Bank of Kenya (CBK), is currently carrying out a massive sensitisation campaign which is aimed at reaching more individuals within Kenya.
The Central Bank of Kenya (CBK), is urging the public to use the window period to replace old 1000 Kenyan Shillings notes, as no additional period will be granted.
