Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Not a violation of the law, CBK weighs in on new notes portrait debate

CBK conducting a public awareness campaign to ensure all members of the public are conversant with the new bank notes/FILE

NAIROBI, Kenya Jun 12 – The Central Bank of Kenya has dismissed claims by activist Okiya Omtatah that the new currency notes bear the portrait of the country’s first President Jomo Kenyatta.

In a response filed Tuesday, CBK explained that the statue which forms part of the iconic Kenyatta International Convention Centre (KICC) is not a violation of the Constitution.

CBK further states that government’s legal advisor the Attorney General had approved the inclusion of the KICC image.

The building, CBK argues, is an important landmark and a national monument under the national Museums and Heritage Act.

“It depicts the very essence of Kenya and national heritage because of its unique architectural design,” CBK adds.

CBK has further defended itself against allegations of failure to include the public in the process leading to the printing of the new currency.

CBK insists that individuals, institutions, organisations and professionals were given a month to present proposals on the design and imagery.

“There was wide public and stakeholder engagement which provided proper guidelines,” CBK further states.
The new currency notes were unveiled last week and are already in circulation, with tough regulations governing its exchange.

CBK Governor Patrick Njoroge said anyone exchanging amounts of more than Sh5 million should contact the CBK for approval.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...