CBK lifts cap on New Generation coins issuance

The Central Bank of Kenya (CBK) has lifted the cap on the issuance of the new generation coins as reported earlier.

Through a statement of clarification, the CBK has said that immediately after the launch of the new currency coin, the amount per person was limited to allow the widest possible distribution.

“This was communicated to all banking institutions on December 14, 2018. However, following a positive assessment of the sensitization campaign, CBK communicated to all banking institutions on December 20, 2018, informing them that the limit had been lifted.”

The CBK has assured Kenyans that there are no limits on the amounts of money they can receive in the New Generation coins from any banking institution and the CBK.

The New Generation coins are in order with the 2010 constitution, Section 231(4) that stipulates, Notes and coins issued by the CBK may bear images that depict or symbolize Kenya or an aspect of Kenya, but shall not bear the portrait of any individual.”

READ: CBK TO INCREASE PUBLIC AWARENESS ON NEW COINS

The new coins of Sh1, Sh5, Sh10, and Sh20 bear the images of giraffe, rhino, lion and an elephant respectively.

President Uhuru Kenyatta last year on December launched the New Generation coins.