Are you still holding onto the old 1,000 banknotes? Are you still waiting for the “proverbial” last-minute rush to make a move?
Woe unto you if you are still holding on the old 1,000 banknotes. Time is not on your side. Forget the 30th September deadline. You have one day and that is today and maybe Monday.
Kenyans who are still in possession of the old 1,000 banknotes have Friday, part of Saturday and Monday to completely exchange them with the new generational banknotes.
Those who were banking on using M-Pesa shops have no luck because M-Pesa shops are no longer accepting the old 1,000 notes. Some were banking on using supermarkets, well, they stopped accepting the notes 10 days ago.
A statement from the Central Bank of Kenya (CBK) shows that only 100 million pieces of the old 1,000 banknotes have been collected.
A total of 217.6 million pieces of 1,000 banknotes were in circulation before the exchange kicked off. This means that Kenyans are still holding onto more than 100 billion shillings in old 1,000 banknotes.
The Central Bank of Kenya has said that no time will be added for Kenyans to exchange the old 1,000 banknotes after the 30th of September and urged Kenyans to take advantage of the remaining time to exchange their money.
When the CBK announced the deadline for the exchange of the old 1,000 banknotes, it was expected that Kenyans with bundles of cash would turn up.
The CBK was ready to flag down any “unusual” transaction among other things to unearth any catch that might have been looted from the public.
As the deadline nears, it has emerged that only 24 individuals were able to transact cash above 2 million shillings. The majority of the transactions were below 2 million shillings.
Residents of Narok, on the other hand, have been put on higher alert following an upsurge in old 1,000 banknotes in the region that are in circulation.
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Only 24 Individuals Returned Over Ksh 2 Million of Old 1,000 Banknotes