Home News Business Exchange your old Ksh. 1,000 notes by Sept’ 30 – CBK Governor

Exchange your old Ksh. 1,000 notes by Sept’ 30 – CBK Governor

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[CBK Governor Dr. Patrick Njoroge. Photo/Courtesy/CBK].

The Central Bank of Kenya has urged Kenyans to exchange their old 1,000 shillings notes by September 30, the withdrawal deadline.

CBK governor Dr. Patrick Njoroge said the older 1,000 shillings bank notes  will be declared ‘Useless’ as at 1st October, 2019.

Speaking in Mombasa on Thursday Dr. Njoroge said circulation of the new generation bank notes in currently ongoing and Kenyans should visit any bank or the Central Bank of Kenya to change their old notes to the new generation notes.

Intensive public awareness campaign

He said CBK is currently on an intensive campaign to ensure Kenyans familiarise themselves with the new currency.

He said the new currency has various security features that Kenyans have embraced and loved them.

As per gazette notice No. 4849 of May, 2019, all the older 1,000 shillings bank notes shall be withdrawn and will cease to be legal tender on October 1.

Features depicts nationhood

“These new generation notes are as per the views and proposals of Kenyans, they are small, they contain features that depicts our peaceful country, farming, transport, education and the environment,” he disclosed.

The CBK Governor however, said the other denominations will not be affected and they will be used concurrently with the old ones as the circulation of the new generations bank notes is enhanced.

“No specific deadline for withdrawal of the sh. 500, 200, 100 and 50 shillings notes, they will remain legal tenders as the circulations goes on,” revealed Dr. Njoroge.

He said the CBK has embarked on serious public awareness campaign to ensure Kenyans know, feel by touching the notes and learn the features by engaging the CBK staff in public barazas at the Coast and countrywide.

“We understand we have our hardworking women in the very many ‘Chamas’ at grassroots level that their Patrons usually keep the money in local safe boxes at homes, these are also our targets let them exchange the old 1,000 bank notes by September, 30 before they become just ‘useless papers” he reiterated.

Requirements

If you wish to exchange up to one million shillings of the older KSh. 1,000 notes, you may do so at any branch of any commercial bank. You need not be an account holder.

Those wanting to exchange amounts from Ksh. 1 million to Ksh. 5 million should do so at their respective commercial banks under the normal procedures and requirements. If they do not have bank accounts, they should visit the Central Bank of Kenya to have their transaction endorsed.

“However, persons exchanging amounts exceeding Ksh. 5 million will require visiting and seeking endorsement from CBK,” added Mr. Njoroge.