No Deadline Extension for Replacing Old Sh1000 Notes – CBK Governor

No Deadline Extension for Replacing Old Sh1000 Notes – CBK Governor

August 9, 2019 0 By mykenyancareers

cbk - No Deadline Extension for Replacing Old Sh1000 Notes – CBK GovernorCentral Bank of Kenya Governor Patrick Njoroge has called on Kenyans to avoid the last-minute rush to replace old Sh1,000 notes ahead of the September 30 deadline.

Mr Njoroge noted that the old Sh1,000 notes will become valueless starting October 1 and that the deadline will not be extended.

The governor spoke on Thursday morning during a breakfast show at Radio Jambo. He said there are enough new generation notes in circulation and Kenyans should take advantage before the deadline lapses.

‘’Kenyans should desist from the last-minute rush. We have enough new notes in circulation, please go exchange now,’’ he said.

Njoroge also asked households to assist elderly people who are fond of keeping the money for a long time to exchange the currency in good time.

CBK’s Head of Communications Mr Wallace Kantai, who accompanied the governor, outlined the procedure on how to replace old notes.kantai - No Deadline Extension for Replacing Old Sh1000 Notes – CBK Governor He said amounts of less than Sh1 million can be exchanged at any nearest bank. Noting that very few Kenyans have amounts above Sh1 million in cash, Kantai said individuals can exchange the notes in their respective banks or at CBK by following the laid transaction procedure.

“Please parents, don’t give old Sh1,000 to your children when they go back to school. This might inconvenience them because those notes will be null and void by the end of the third term,’’ Kantai added.

He also asked employers who pay their workers in cash to ensure they use the new currency notes.

Ⓒ 2019 Nairobi Wire