KENYAN TRADERS WITHIN EAST AND CENTRAL AFRICA HARD HIT BY NEW CURRENCY LAW

Kenyan Business lady samples the new currency after changing with the old notes. PHOTO /CHRIS OJOW

KENYAN TRADERS WITHIN EAST AND CENTRAL AFRICA HARD HIT BY NEW CURRENCY LAW.

By Chris Ojow

The Central Bank of Kenya through the Governor Patrick Njoroge has issued a brief notice informing the Neighbouring States to decline converting the Kenyan currencies.

The Bank’s regulator is facing out the old notes in a bid to tame money laundering and nab Kenyans who acquired huge sums of money through corrupt deals.

The changing of old currency in Kenya is also a requirement by the 2010 new Constitution of Kenya.

As two influential figures in the Country filed a a petition before a Constitutional Court in Kenya seeking to stop the circulation of new currency National on grounds that the law was breached by the regulator.

Kenya is at war with the corrupt individuals and the Country has made several arrests of high prominent personalities believed to have involved in corruption’s activities and charged in law Court’s .

Traders within East and Central Africa have no options but to travel back in Kenya and convert their money into new currency inline with the law.

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