plans to withdraw an old version of its 1 000 shilling banknote to tackle illicit financial flows and counterfeiting, its central bank governor said on Saturday.promised to stamp out graft when he was first elected in 2013, but critics say he has been slow to pursue top officials and there have been few high profile convictions since he took office.
“We have assessed the grave concern that our large banknotes, particularly the older one thousand shillings series,are being used for illicit financial flows in Kenya and also other countries in the region,” Njoroge said. The central bank’s move comes as Kenyan lawmakers push for the implementation of amendments to banking laws that would-relax the east African country’s rigorous requirements for recording transactions above $10 000.