The Central Bank of Kenya, CBK, has assured Kenyans that there are enough new generation notes and coins. This latest confirmation comes at a backdrop of heightened concerns over inadequacy of the new generation notes in recent weeks. But, CBK governor Dr Patrick Njoroge on Tuesday (25- July, 2019) told Members of Parliament that bank Auto Teller Machines (ATMs) have now been configured to dispense the new notes. He said employees will now receive their July salaries in new currency.
“As people get their salaries starting this week, they will get new notes. We have put new currency in the ATM pipelines. We are weaning old-generation currency in the ATMs,” said Dr Njoroge
“People will largely get their salaries in new bank notes this month. We are starting to feed the ATMs with new currency banknotes as we wean them of old generational currency,” he added.
Dr Njoroge who was appearing before the Parliament’s Public Investments Committee said the new notes will first be fed in remote areas.
“We are starting with ATMs in far-flung areas because they are often forgotten. Those in cities like Nairobi, Mombasa and Kisumu will also access the new-look banknotes,” Dr Njoroge confirmed.
While dispelling fears over inadequacy of the new notes and low circulation, the Governor said CBK had released some new currency to test its acceptance across the country during the launch in June. “We have enough new currency banknotes that we are going to release by end of this week through the ATMs and banking halls,” he explained.
Dr Njoroge said all ATMs in the country will have new currency as the country moves towards the October 1, demonetisation deadline of the Sh1,000 notes. On June 1st during the Madaraka Day Celebrations, the CBK Governor announced that the old generation notes for one thousand will cease to be legal tender by 1st October, 2019.
There have been reported a few cases of unscrupulous conmen who are trying to introduce fake notes for the new currency.