Wetangula urges CBK to educate the public on the new currency notes

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Bungoma Senator Moses Wetangula
Bungoma Senator and Ford Kenya leader Moses Wetangula

Bungoma Senator Moses Wetangula has urged the Central Bank of Kenya to educate the public about the new generation notes so that Kenyans don’t fall prey to fraudsters. Speaking in Kabuchai, Bungoma County, during the Ford Kenya Party grassroots election, Wetangula said the CBK should enhance public participation and that the features on the new notes should be explained further. “It is important that as the Central Bank prepares to mop up the old currency, to educate the public on the features of the new currency, the colours, the saliant watermarks that are visible and invisible so that wananchi don’t fall prey to counterfeiters.”

He said the mopping up of the old currency should also be done quickly so as not to give time to counterfeiters and hoarders who may have other plans. His sentiment was supported by Kabuchai MP James Lusweti who said people must be sensitized on the new currency notes. “They must come to the grassroots to explain what’s legal and what’s illegal,” he said. He urged the government to ensure that the new notes won’t be easy to duplicate by fraudsters.

The new generation notes, which were launched on Madaraka Day are already in circulation, even though the old notes haven’t been withdrawn. The Kshs 1000 old notes, however, will cease to be legal tender on October 1st, in a move aimed at dealing with fraud and illicit transactions, most of which involve the Kshs 1000 notes. However, two petitions were filed in court to stop the issuance and circulation of the new notes, and it remains to be seen what the legal outcome will be.