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Kenya’s Central Bank could be charged if shilling not replaced

Categories : Cash connects people, Cash is a symbol of national sovereignty
September 20, 2017
Published in : Africa, Cash, Central Bank, Regulation
The Central Bank of Kenya could be charged if it doesn't act quickly on the change in constitution: none of the country's notes and coins should carry illustrations of individuals.
Communication Team

The Central Bank of Kenya (CBK) might be charged for the extended delay in issuing a new series of the Kenyan shilling. Indeed, following a change in the Constitution which requires the Central Bank to issue currencies that do not depict portraits of individuals, the CBK was required to take action by August 2015. To this day, however, the unconstitutional banknotes are still in circulation and the CBK has not taken action to remove and replace them.

Activist Okiya Omtatah sent a letter to CBK Governor Patrick Njoroge requesting that all notes and coins portraying individuals be removed in a seven-day timeframe and a failure to do so could lead to legal action against the CBK.

The new series is expected to be issued in five denominations, all banknotes: 50, 100, 200, 500 and 1,000 shillings.

To read more, please click here.

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