The fake notes have started hitting the counter. The news of unveiling of the new notes was characterized with so much hype that most of the cartels who have crafted the art of minting fake notes have started capitalizing on the hype to advance their fake business.
In a post which has been making rounds in social media, Ksh. 1000 note has already been counterfeited.
CBK Governor Patrick Njoroge said the new notes have a unique theme and security features and will have images various images—including the iconic KICC, the big five wildlife and will be easy to use by the visually impaired.
Njoroge said CBK is increasingly concerned by the emergence of counterfeits which jeopardize proper transactions and the conduct of commerce in Kenya’s currency.
But his security features have been cracked by the cartels who have successfully minted the new notes which are seemingly in circulation.
'Wash wash' seem to be ahead of Kenyans. They have started printing fake New notes yet some people have not even touched the new bills, very dangerous. pic.twitter.com/I9oY2MbKI4
— NANCY OKUTAH (@nancyokutah) June 11, 2019
— Mustafa Juma (@jumamuhst) June 11, 2019
But CBK issued the full statement on how to verify the new currency which most Kenyans have not yet familiarized themselves with them.
The new notes have been characterized with a lot of controversy. The legitimacy of the new notes have been questioned by a number of legislatures. But the Central Bank of Kenya through Governor Patrick Njoroge has insisted that CBK followed all the due processes in the minting process.
But CBK is more likely to engage the citizens in awareness campaign in order to help them not fall victims of being used to rogue cartels to exchange their fake currencies.