in

COFEK Wants CBK Barred From Printing New Currency

/courtesy
/courtesy

The Consumer Federation of Kenya(COFEK) has moved to court to stop the Central Bank (CBK) from printing the new currency that was unveiled by President Kenyatta last week.

According to COFEK, CBK contravened article 10 of the constitution and that there was no public participation before the new currency was unveiled.

The secretary general Stephen Mutoro said that the currency is a symbol of national unity there should have been public participation in relation to the images on the various denominations that the images represented.

COFEK has asked the court to have CBK withdraw the printed coinage and start the process afresh with the input of the public.

Last week President Uhuru Kenyatta and the Central Bank of Kenya (CBK) Governor Patrick Njoroge launched the new generation Kenyan currency in accordance with the 2010 constitution.

Read:Amazon Opens Doors For Kenyan Shilling In Global Shopping

They said that the  coins would begin circulation as a legal tender in accordance with a gazette notice published on Tuesday. The new coin currencies contains features that are favorable to visually impaired persons and will no longer include Presidents’ portraits.

The CBK governor said that the new coins would serve as a means of passing knowledge, conserving culture, and promoting Kenya’s global uniqueness.

Do you have a story you want told? Do you know of a sensitive story you would like us to get our hands on? Email your news TIPS to news@kahawatungu.com  Also WhatsApp 0708677607 with your news tips

Written by Merxcine Cush

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Garry Neville

Garry Neville Calls Man United Board ‘Naïve’ For Keeping Mourihno On The Job

churchill fans raise money

Churchill Show Audience Members Raise Sh1 Million For Mathare Dancers