Today is the last day of legal tender for Kenya’s old 1,000-shilling banknote and other smaller denominations. Customers were given a notice period of four months to replace the old notes with the new currency when Bank notes were introduced in June this year. A statement from the governor of the Central Bank, Patrick Njoroge said that the old notes had to be phased out to tackle corruption and illicit financial flows. As the last date drew closer, several big transactions were reported from the market like purchase of luxury goods like Mercedes Car etc
However, the design of the new currency, featuring an image of a statue of Kenya’s first President, Jomo Kenyatta became an issue among some Kenyans. A human rights activist challenged the use of the former president’s image arguing it violated the norms of the constitution which outlaws the use of portraits of individuals in any currency. The challenge was over ruled by the High Court last week saying that President Jomo Kenyatta’s statue was not a portrait. The court also refused to extend the expiry date of old Sh1,000 notes.
