Ksh7.4B of the 1000 notes Still out in the Public

Central Bank of Kenya Governor Patrick Njoroge, declared that the just concluded exercise of returning old generation Sh1000 notes managed to collect KSh209.6 billion of the 217 billion that was in circulation.

The old generation Sh1000 notes that were not submitted to the CBK are now worthless pieces of paper, which were worth Ksh7.4b. The collected pieces will be disposed accordingly this is after they have been shredded and turned into briquettes.

Over 3,000 accounts were flagged over suspicions transactions by banks during the period of exchanging old generation notes with new ones.

Lower denominations of the old currency will be faced out in the next two years.