New coins to be issued to customers on 1 condition

Getting the new-look coins more challenging

President Uhuru Kenyatta displays a set of the new currency Kenyan coins during their launch in December 2018 (PSCU)

The Central Bank of Kenya has issued a new condition to banks regarding the issuance of the new Kenyan currency coins to customers.

A circular to bank chief executives states that a customer shall not be issued with coins exceeding Sh 100.

The notice explains that the measure is due to a hitch in public awareness.

"Since CBK is in the process of undertaking a public awareness campaign, the distribution is being limited to Sh 50 and a maximum of Sh 100 of the new coins equivalent per customer," stated the acting director for currency operations Mr Paul Wanyagi.

Point of Clarification on Old Coins

Wanyagi clarified that the old coins still remain in circulation as legal tender and bank requests for coins remain as was.

"The new generation coins will circulate alongside the coins previously issued and not withdrawn.

"We welcome commercial banks to place their coin orders using the already existing mechanism," he explained.

The coins were launched on December 14, 2018 in adherence to a Constitutional requirement that currency should not bear the image of an individual.

The Consumer Federation of Kenya (Cofek) filed a lawsuit against CBK arguing that there should have been public participation on the images to be used.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Westlands MP's plan to transform Nairobi into Smart City

Westlands MP's plan to transform Nairobi into Smart City

Omanyala joins GSU Recce Squad for special role

Omanyala joins GSU Recce Squad for special role

State House Chief of Staff appointed honourary warden at KWS

State House Chief of Staff appointed honourary warden at KWS

Waiguru joins Sipangwingwi Challenge to promote Kenyan talent [Video]

Waiguru joins "Sipangwingwi Challenge" to promote Kenyan talent [Video]

Student who received Sh102M from boyfriend breaks silence

Student who received Sh102M from boyfriend breaks silence

Shinyalu MP Justus Kizito arrested

Shinyalu MP Justus Kizito arrested

Nipatieni bwana - Shouts CAS Mercy Mwangangi while in Migori with Raila

Nipatieni bwana - Shouts CAS Mercy Mwangangi while in Migori with Raila

Murang'a billionaire Joe Kibe dies

Murang'a billionaire Joe Kibe dies

DCI Kinoti says Agnes Wanjiru was dumped in septic tank while still alive

DCI Kinoti says Agnes Wanjiru was dumped in septic tank while still alive