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Here Are The Reasons As To Why The new Kenyan Notes Are Aging So quickly

Dr Patrick Njoroge, the Governor of the National Bank of Kenya, has explained why the new Kenyan money notes are aging so quickly.

Because of the high rate of flow, Njoroge admitted that the lower groups were wearing out faster than the more established ones. Njoroge testified before the Senate Committee on Finance and Budget, claiming that the new notes were, in any event, of higher quality than the older ones.

He also criticized a section of Kenya of lacking cash-handling skills, claiming that a substantial chunk of the population does not use wallets for more safe money storage."Blurring occurs as a result of how we handle cash." When it comes to cash, we are ruthless. Indeed, we, as a group of experts, should put them in the kibeti (wallets)."We don't have wallets in the great majority of cases. We placed the money in various locations "Njoroge said, noting that even those who use the wallet carelessly dump money into it.

The chief representative went on to say that using the wallet was one of the most important aspects of planning the new money ten years ago.

He also stated that there was no shortage of notes and that the market's stockpile was sufficient to meet the demands.

In September 2019, CBK introduced the new notes to the Kenyan market. The new notes were delivered by President Uhuru Kenyatta.President Uhuru Kenyatta issued the new notes in December 2018, noting that they were in accordance with the 2010 constitution.

"I'm overjoyed that we'll be able to reach another another goal today. I've learned that new era coins continue the tradition of depicting an angle that best represents our country "Uhuru provided information.

Despite this, after presenting the replacement notes, CBK was challenged by the authorities. Okiya Omtatah, a dissident, lost a case in which he claimed that the new notes featured photographs of persons (particularly first President Mzee Jomo Kenyatta) rather than those that depicted or represented Kenya.

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Committee on Finance and Budget Kenyan National Bank of Kenya Njoroge Patrick Njoroge


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