Samburu county official arrested transporting Ksh1.099Million in a bag hours after government announced plans to abolish older Ksh1000 bank note in a bid to fight graft

Barely a day after government announced that the older Ksh 1000 bank notes will cease to be legal tender on 01 October, police manning a road block have intercepted and arrested an employee of Samburu County who was caught ferrying Ksh 1099000 stashed in a bag in what is suspected to be money-laundering.

Samburu Police Commander Karanja Muiruri confirmed that police impounded a motor vehicle Registration Number 25CG O32A, make Toyota Fortuner belonging to the Samburu county government and upon conducting a search found the cash stashed in a bag.

An employee of the county government attached to the Social services department who was driving the vehicle at the time of the incident was arrested after he failed to account for the millions in his possession.

“The driver could not account on the source of the money or its intended use, hence the reason for the arrest as police try to establish the source of the money and where it was being taken to,” Karanja said.

File image of police ferrying suspects Pulse Live Kenya

The suspect is currently in police custody and will be arraigned in court tomorrow to answer to charges of money laundery.

Police also impounded the cash that will be used as exhibit with investigations underway to bring all those involved to justice.

“The money is being held as exhibits and the Directorate of Criminal Investigations Samburu East is probing the matter to establish the people behind the transfer of such a huge amount of money,” confirmed the police boss.

The arrest comes barely a day after the government announced that the older Ksh 1000 bank notes currently in circulation will cease to be legal tender on 1 October 2019.

The move was hailed as the end of the road for corrupt cartels and criminal enterprises who have stashed millions of cash in their homes and will disrupt illicit financial flows that have previously been exploited by Tax evaders, corrupt politicians, terrorist financiers and fraudulent businesspeople.

Stringent regulations made banks a no-go zone for criminal enterprises, money launderers and merchants of corruption, forcing them to keep the money in their homes or offices.

CBK Governor Patrick Njoroge presents the new generation notes to President Uhuru Kenyatta on 01 June 2019 during the Madaraka Day celebrations in Narok Pulse Live Kenya

The new directive leaves them with no option but to get the millions back into the mainstream and legit financial system or end up stuck with billions of hidden shillings that will become valueless in just months.

Analyst opine that a spending spree is set to commence in a bid to beat the deadline as money that would have otherwise remained idle in closets inside people’s homes will find its way into the mainstream financial system through bank deposits and investments leading to economic growth.