Central Bank Governor Patrick Njoroge has warned Kenyans to be on the lookout for counterfeit new notes. The CBK executive made the declaration during an awareness campaign in Kwale County.
The new currency was introduced on 1st June this year in an effort to curb counterfeiting, illicit financial flows, and money laundering.
“The public should be vigilant to avoid becoming victims of counterfeit money,” said Dr Njoroge urging Kenyans to memorize the unique features of the new currency.
The old generation 1000-shilling banknotes are expected to cease circulating in the Kenyan market from 1st October. Dr Patrick Njoroge added that there has been an underwhelming return for the old KSh1,000 bank notes, given the deadline is fast approaching.