Banks
CBK Denies CS Matiang’i Allegations on Sh.200, Sh.100 Shortage
Central Bank of Kenya (CBK) Governor Patrick Njoroge has reacted to alleged shortage of KSh 200 bank notes in the country.
This is following claims by Interior CS Fred Matiang’i that there was a shortage of the notes in circulation.
Reacting to the claims, the CBK boss said he was not aware of the claims, noting that they have enough supply for the notes.
Speaking during a Monetary Policy Committee (MPC) press briefing, CBK Governor Patrick Njoroge said that the bank has more than enough stock of the notes.
Njoroge noted that he had not received any reports on the inadequacy of the said notes.
“I do not know about this question on small notes. I do not know where this story is coming from,” he said.
Reacting to the claims, Njoroge said he was not aware of the claims, noting that they have enough supply for the notes.
He acknowledged that in July they supplied banks with 2.1 billion of Sh 100 notes as per the demand.
“We supply notes as demanded by banks. For instance, in the month of July, we supplied the equivalent of 2.1 billion of Sh100 notes,” he said.
Speaking during the launch of the inaugural Money Laundering and Terrorism Financing National Risk Assessment Report (2021), Interior CS Fred Matiang’i said the banks are facing a shortage of KSh 200 and KSh 100 notes.
The CS said Sh100 and Sh200 notes are being used by politicians to bribe voters ahead of the August 9 polls. He further said decision made by voters in the forthcoming election will will be critical in the war on terror financing and money laundering in the country.
“Either we elect a government that will not fight money laundering because that is its way of life and we will not achieve anything or elect a government that is against money laundering, with integrity and will join all of us in fighting these challenges,” he said.
He also said that people in business are involved in money laundering activities as witnessed during the transition from the old currency to the new one.
