Central Bank of Kenya Governor Patrick Njoroge displays new notes at his
office in Nairobi on June 3, 2019. PHOTO | FILE | NATION MEDIA GROUP
In Summary
According to figures reviewed by the Sunday Nation, by
September 1, only 24 people had walked into any of the 42 banks with
more than Sh2 million in the old notes to convert to new ones.
In fact, 99 per cent of those who converted the notes had Sh1 million or less.
Either
those targeted had anticipated the June 1 action long before it came
and converted the billions into foreign currency long before CBK came
calling.
The mystery of missing billions from the Kenyan economy has been exposed
by the ongoing currency replacement exercise that ends tomorrow.
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