Story withdrawn

Editor's Note:

On January 26 we carried a story indicating that Parliament has nullified Central Bank of Kenya (CBK) rules on large cash transactions.

It has since been brought to our attention that this is not the correct position. Parliament offered an advisory that State agencies need to seek MPs' approval ahead of enforcing regulatory rules.

The Speaker also gave guidance on how MPs should deal with regulation-making bodies that fail to seek parliamentary approval for rules and regulations.     

We regret the error and any inconvenience caused.