CBK yet to to print new currency notes despite Cabinet approval

Wednesday March 2 2016

Kenyan Sh1000 currency notes. The Central Bank of Kenya has failed to print new currency notes in line with the Constitution despite Cabinet approval a year ago. PHOTO | EMMA NZIOKA | NATION MEDIA GROUP

Kenyan Sh1000 currency notes. The Central Bank of Kenya has failed to print new currency notes in line with the Constitution despite Cabinet approval a year ago. PHOTO | EMMA NZIOKA | NATION MEDIA GROUP 

By JEREMIAH KIPLANG'AT
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The Central Bank of Kenya has failed to print new currency notes in line with the Constitution despite Cabinet approval a year ago.

It emerged on Tuesday that the Cabinet gave CBK the go-ahead to develop and begin rolling out the new notes in February last year.

Correspondence between the Commission on Administrative Justice (the Ombudsman) and CBK seen by the Daily Nation indicates that the Cabinet agreed with the newly-designed notes, paving the way for their printing.

On Tuesday the Ombudsman, Mr Otiende Amollo, wrote to CBK Governor Patrick Njoroge asking to be informed within 14 days of the progress made in printing the new currencies.

“On 26 February 2015, the commission received a further communication informing us that CBK had received Cabinet endorsement of the new currency concept designs and embarked on the process of developing the technical currency designs.

‘‘We were also informed that the process was at the tendering stage. We have reviewed this matter after one year and noted that there has been no communication from CBK on its progress. In light of this we kindly request you to update us on the progress in the printing of new currency within 14 days hereof,” said Mr Amollo.

APPROVED THE CONCEPT

In a letter to Mr Amollo in February last year, the then CBK Governor Njuguna Ndung’u confirmed that the Cabinet, chaired by President Uhuru Kenyatta had approved the concept designs for the new currencies, opening the way for their production.

“We confirm that we did receive Cabinet endorsement of the new currency concept designs and embarked on the process of developing the technical currency designs. After advertisement of the tenders, the tendering process is currently ongoing as required by the public procurement laws,” said Prof Ndung’u in a letter.

Prof Ndung’u left the bank at the end of February 2015 and Dr Njoroge took over in June.

Dr Njoroge is set to appear before the Senate Finance Committee on Thursday to tell the lawmakers what he was doing to ensure the printing of the currencies that comply with the 2010 Constitution.