Former Kakamega Senator Boni Khalwale has come out to criticise the Central Bank of Kenya over the process of demonetisation of the old Ksh1000 notes.
Khalwale who was speaking during the morning show at K24 on Thursday, October 3, alleged that the hyping of the process was just a political move.
He further stated that the CBK would have just allowed the old notes to be used co-currently as it was being slowly phased out just like the other denominations.
"This hyping was intended to play politics, in fact, we did not have to demonitise, we should have just allowed the new notes to circulate alongside the old ones as was slowly phased out. The attempt to demonitise was in itself political," Khalwale told Jeff Mote the show host.
The bullfighter further claimed that most countries that have changed their currencies in the past had not demonetised but rather had phased out their old monies slowly.
The discussion had been elicited by the announcement by the CBK that they process of demonetising the old Ksh1000 notes had been successful.
CBK governor Patrick Njoroge further confirmed that Ksh7.38 billion in old notes had been declared valueless as they had not been submitted for exchange.
He also revealed that he was satisfied by how the process had been conducted stating that the notion that Kenyans were last-minute people had been broken.
In the process, 3,172 suspicious transactions were flagged and CBK announced that the other institutions (KRA, EACC, FRC, DCI) were continuing with the relevant investigations.
