WAR ON CORRUPTION

Demonetisation failed to topple mountains of ill-gotten gains, but bad guys can't spend it

There was no visible panic among quarters always fingered for sleaze.

In Summary

• It has been that the CBK decision to demonetise and withdraw from circulation the Sh1,000 notes had more to do with politics than economics.

• It was intended to boost the fight against corruption involving cartels in the private sector colluding with the Public Service under patronage of the political class.

Central Bank Governor Patrick Njoroge surprised Kenyans during Madaraka Day celebrations in Narok when he announced new currencies and said the Sh1,000 notes would cease being a legal tender by ...

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