CBK Vs Thieves

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tana
Posts: 7
Joined: Tue Jun 04, 2019 1:00 am

CBK Vs Thieves

Post by tana » Tue Jun 04, 2019 1:02 am

CBK_1000notesorder.jpg
“A steady increase of illicit financial inflows and rising cases of counterfeit banknotes informed the shock decision by the Central Bank of Kenya to recall the Sh1,000 note by October 1, 2019.

Addressing a media briefing in Nairobi yesterday, CBK Governor Patrick Njoroge said an increase in suspicious transactions point to a country at the mercy of a thriving underground economy.

Without giving details of the amounts involved in the illicit transactions, the governor said the irregular deals had one leg in dirty cash that is hurting the economy.”
http://www.mediamaxnetwork.co.ke/news/b ... es-528987/

Already, 2 people have gone to court to challenge this CBK action - a busybody/idler, and a thief.

BTW it would be good if the law was changed so that if someone wants to challenge a certain Kenyan law/regulation that affects millions of other Kenyans, then he/she must deposit in court a NON-REFUNDABLE fee of KES 100,000 ($1,000).

If a busybody/idler cannot find 1,000 Kenyans willing to contribute KES 100 ($ 1.00) each to fund his/her petition, then the planned petition is hopelessly frivolous and shouldn’t be filed.

If Kenya had such a law, then most likely, only 1 petition would have been filed (by yesterday) against the CBK order - by the thief.

tana
Posts: 7
Joined: Tue Jun 04, 2019 1:00 am

CBK Vs Thieves

Post by tana » Tue Jun 04, 2019 8:04 am

“On Monday, Dr Njoroge said people “involved in illicit transactions” using “illicitly acquired cash” will find it impossible to get the money in the banking system or even to convert it into new-generation bank notes.

“We believe we have a very strong anti-money-laundering and counter-terrorist financing framework,” he said in Nairobi.
https://www.nation.co.ke/business/Corru ... index.html

This article by the Daily Nation is well written. Anyone who wants to understand what this “new currency” fight is all about, better read this piece.

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