The Central Bank of Kenya (CBK) has announced that it will hold a press conference on Wednesday, 2 October 2019, at 11:00 a.m., on the demonetisation of the KSh 1000 note.
‘Governor @njorogep will host a press conference on Wednesday, 2 October 2019, at 11:00 a.m., on the demonetisation of the KSh 1000 note. Journalists are required to have valid identification and accreditation documents’, CBK posted OK their social media pages.
The period to exchange old Ksh1000 bank notes end at midnight today.
The Banking regulator has previously affirmed that the deadline will not be extended and that those who will syoll have the old currency by 1st October will be holding on to ‘worthless paper’.
CBK and other depotist taking actors in the financial sector have carried out massive campaigns to have Kenyans exchange the old Ksh1000 notes.
Since the demonetization effort was to curb illicit financial flows and counterfeiting, CBK had put an order out to banks to notify it in case one was depositing over Ksh5 million.
Persons without bank accounts exchanging currency notes for amounts exceeding Sh1 million will require an endorsement from CBK, same to the person exchanging currency notes for amounts exceeding Sh 5 million.
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