The corrupt hit hard by CBK decision on new Sh1,000 notes

What you need to know:

  • CBK insiders who spoke in confidence said Dr Njoroge’s announcement was the culmination of a secret operation that President Kenyatta was fully briefed about.

  • Decision kept secret to stop serial litigious activists from scuttling it

  • Those that have been hiding money in their bedrooms, bunkers, and safes will have the hardest task of getting it to banks or legitimising it.

  • The Sh1,000 note referred to in slang as “thao” or “ngiri”, is the highest denomination and is preferred by those carrying huge amounts.

The government has struck corrupt officials, launderers and those with ill-gotten money where it hurts most after the Central Bank of Kenya scrapped and recalled the current Sh1,000 notes.

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