CBK Intervenes to Have the US Embassy Accept New Bank Notes

The Central Bank of Kenya’s (CBK) has intervened to have the US Embassy in Nairobi accept the new currency notes.

The US Embassy through a tweet said it was now accepting the new currency notes, just a day after it had declared that Kenyans who planned to make any consulate payments were to use the old currency notes only.

The Embassy further stated that it had embarked on procedures to accept the new Kenyan shilling.

“Until these procedures are in place, consular applicants will only be able to pay for services using the previous Kenyan shillings. You may also continue to pay by credit card, “the tweet had stated.

A subsequent tweet on Tuesday afternoon had the Embassy make a turnaround on the decision as it stated that the Central Bank of Kenya (CBK) had availed it with equipment upgrades and training necessary to accept the new currency.

UPDATE: After coordination w/@CBKKenya, we have been provided with equipment upgrades & training necessary to accept the new Kenyan currency. We now accept the new currency as well as the legacy currency valid until Oct 1. You may also continue to pay for services by credit card. pic.twitter.com/HSr0BdlLRk

— U.S. Embassy Nairobi (@USEmbassyKenya) June 18, 2019

“After coordination with the Central Bank of Kenya, we have been provided with equipment upgrades and training necessary to accept the new Kenyan currency. We now accept the new currency as well as the legacy currency valid until Oct 1. You may also continue to pay for services by credit card,” the Consulate announced the decision to accept the new Kenyan Shilling Notes in a tweet.

READ ALSO: What you Need to Exchange Current 1,000 Banknotes for New Currency 

The new currency is already in circulation in denominations of 50 shillings, 100 shillings, 200 shillings, 500 shillings, and 1000 shillings.

CBK Governor Dr Patrick Njoroge said while launching the new currency on Madaraka day that the 1000 shilling note would be phased out by October 2019.

The other denominations would, however, phase out slowly unlike the 1000 shilling note.

“All the Sh1000 notes were withdrawn by a gazette notice on Friday. Those in possession have until October 1, 2019, to release them,” the CBK Governor said.

The change of currency has been viewed as a way to curb the flow of illicit money in the Country.

READ ALSO: Grace Period to Exchange Ksh1000 Notes Likely to Fail in Tackling Illicit Financial Flows