Governor Mutua’s MatressBank is in danger.


Machakos Governor, H.E Dr Alfred Mutua in what seemed as a soft statement for those who have ‘legally obtained cash’ to be allowed to change.

His tweet, seen by KituiOnline suggests that there are individuals who have large sums of 1000 notes stashed in their houses.

Mutua’s tweet

Tweet read in part “We must acknowledge some people keep legally obtained cash instead of banking it and they should be allowed to change what they have to the new bills….

According to Mutua It is not illegal to keep cash and therefore Wananchi should not be forced to bank their money.

Mutua’s statement comes a day after CBK Governor Patrick Njoroge Unveiled new currency and stated that 1,000 notes will only be useful on and before October 1.

We have assessed the grave concern that our large bank notes, particularly the older Sh1,000 series, are being used for illicit financial flaws in Kenya and also other countries in the region. To deal with those concerns, all the older Sh1,000 series shall be withdrawn by a Gazette Notice dated May 31, 2019, all persons have until October 1, 2019 to exchange those notes, after which the older Sh1,000 bank notes will cease to be legal tender,” Njoroge said

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