Patrick Njoroge Reveals How CBK Withdrew Old Sh1,000 Note

When the Central Bank of Kenya (CBK) announced in 2019 that the old Sh1,000 note would be withdrawn from circulation, the decision triggered anxiety across the country.

The exercise affected millions of Kenyans, required nationwide coordination, and carried significant economic and political implications.

Yet former CBK Governor Patrick Njoroge now says the operation succeeded because it was driven by one principle, nobody should be left behind.

Speaking during CBK’s CBK @60 interview series, Njoroge offered a behind-the-scenes account of one of the most consequential currency transitions in Kenya’s recent history.

The withdrawal of the old Sh1,000 note was part of a broader redesign of Kenya’s currency following the 2010 Constitution, which required new banknotes that reflected the country’s national identity and strengthened the integrity of the financial system.

CBK…