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CBK vague on roll out of the new currency

Dr Patrick Njoroge, Central Bank of Kenya governor. PHOTO | SALATON NJAU | NMG
Dr Patrick Njoroge, Central Bank of Kenya governor. PHOTO | SALATON NJAU | NMG   

The Central Bank of Kenya (CBK) remains unclear on when it will roll out the new-look currency as stipulated in law amid mounting legal concerns on the delay.

CBK governor Patrick Njoroge on Tuesday did not explain the delay nor provide time-lines on the expected roll-out, only saying the process is on course.

“We are in the business of having the new generation currency that is consistent with the Constitution and we will do this in accordance with the Central Bank Act and to all other laws that govern that whole process,” he told a media briefing.

The CBK risks legal action for the delay in rolling out the currency as required by the Constitution.