Kenya’s decision to withdraw its Ksh1,000 ($10) notes from circulation by October 1 was last week facing strong legal headwinds in the form of two legal suits against the Central Bank of Kenya.
The suits seek to challenge Central Bank of Kenya governor Patrick Njoroge’s decision to use the transition to new bank notes to strike the nerve centre of the multibillion shilling illicit financial flows industry that has recently benefited from massive looting and hoarding of public funds in private homes.
