The Central Bank of Kenya’s directive to make current Ksh1000 notes obsolete on October 1 has been welcomed by US Ambassador Kyle McCarter and UK High Commissioner Nic Hailey.
Praising the directive, the envoys said the move will hit hard corrupt individuals in the country, hence curb graft.
Taking to his Twitter handle, McCarter said the directive is one of the tools that can curb graft.
“Great news. One more tool that can be used to stop the plague of thievery keeping the wananchi from the prosperity they deserve,” he said.
On his part, Hailey on Saturday said, “This announcement on the 1,000 bob note is great news. Anyone who has been stashing proceeds of corruption in cash, to avoid oversight, will have to explain where their wealth came from. Welcome @StateHouseKenya tough stand on corruption.”
— Ambassador Kyle McCarter (@USAmbKenya) June 2, 2019
McCarter’s statement comes days after he criticized Kenya’s 17th National Prayer Breakfast on Thursday, saying the leaders had gathered to pray and ask for forgiveness for the sin of “thievery”, a view many supported.
McCarter stated: “Kenyan leaders are praying and asking for forgiveness for the sin of thievery at the 17th annual National Prayer Breakfast. What a good start to take the nation on the path of prosperity the wananchi deserve. We must all do our part.”
The shocking move to end legal tender of current Ksh1000 notes was made by CBK Governor Patrick Njoroge during Madaraka Day celebrations in Narok County.
“We have launched new banknotes in accordance with the constitution.We are withdrawing all the older Ksh.1,000 bank notes. The new banknotes will be immune to corruption,” Njoroge asserted.
He further noted that Kenyans have until October 1, 2019, to exchange all the older bank notes.
The directive is expected to disrupt illicit financial flows.
Consequently, the President unveiled the new-generation banknotes which according to the CBK governor, they are already in circulation.
“The Central Bank of Kenya has now completed the process of producing the new-generation banknotes in accordance with the Constitution all applicable laws.
“I can confirm that the new-generation banknotes were issued on May 31, 2019 by Gazette notice. They are now legal tenders,” he explained.