ODM wants CBK deadline for new currency changed to August 1


ODM wants CBK deadline for new currency changed to August 1
ODM Chair John Mbadi addresses journalists on 4th July, 2019.

In Summary

  • However, in regards to the image of founding President Jomo Kenyatta ODM on the new Ksh.1000 note, Mbadi termed it as improper.
  • According to him, CBK should print notes without any image to fully comply with the constitution.
  • CBK Governor Patrick Njoroge however maintains that the design is in line with the new Constitution.

The Orange Democratic Movement (ODM) wants the deadline for exchanging the old Ksh.1000 notes changed from October to August.

Chairperson John Mbadi laudable the demonetisation move saying the market is flooded with fake notes.

“We have people who keep money in their houses and black market away from the economy, proceeds of corruption and money laundering, CBKs move was a bold move to tame this practice,” he said.

“The date of first October should be revised to 1st of August not to give people time to clean up fake money,” he added.

Mbadi, who was addressing journalists at the Parliament buildings on Tuesday, further said ODM supports the initiative to roll out new currency.

However, in regards to the controversial image of founding President Jomo Kenyatta ODM on the new Ksh.1000 note, Mbadi termed it as improper.

According to him, CBK should print notes without any image to fully comply with the constitution.

“Even the current notes bear the portraits of the first and second presidents yet they came after the new constitution,” said Mbadi.

“We are not demanding for a recall of the already printed notes but when the new notes are printed, CBK should gradually phase out the notes printed with the image of Kenyatta when their lifespan comes to an end,” he said.

Two petitions have been filed challenging the design and roll out of the new currency.

East African Legislative Assembly (EALA) MP Simon Mbugua and activist Okiya Omtata are behind the petitions.

They argue that the inclusion of the late President Jomo Kenyatta’s portrait violates Article 231(4) of the Constitution.

Omtatah further argues that there was no public participation on the design and imagery used on the new notes.

CBK Governor Patrick Njoroge however maintains that the design is in line with the new Constitution and they will deal with that matter in court.

 

 

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