Change of currency will save Kenya’s economy and curb corruption, says city lawyer

The Central Bank of Kenya’s decision to change the country’s currency will tame corruption and render valueless the monies hidden in individuals’ houses and in foreign banks, says lawyer and West Mugirango parliamentary hopeful Stephen Mogaka.

Speaking in his Nyamira home recently, who unsuccessfully contested the West Mugirango seat on a Wiper ticket, applauded the CBK’s move and termed it as bold and determined to end corruption and money laundering devil which has haunted Kenya for a long period.

He said the government had shown commitment to end corruption and end the culture of politicians and business moguls hoarding money.

“I want to thank the Government and the CBK for the bold move which I believe is going to control the rate at which corruption is eating into our country, the change of our Kenyan currency will boost the fight against corruption which our president has shown a lot of commitment in ending it,” he said.

Politicians have crippled the economy as huge sums of money has been kept in their homes and other business giants hoarding it, this will deal them a big blow as the money kept in their homes will be rendered valueless from 1st October.”

CBK Governor Patrick Njoroge announced the daadline for use of the old currency on the Madaraka Day cerebrations in Narok County on 1 June.

This came as a surprise and elicited mixed reactions where a certain quarter of leaders said the move was targeting certain individuals whose wealth was questionable.

However, the government has insisted that the old currency will cease to be recognized from 1st October when the timeline for transition ends.