MAKODINGO: 2019 demonetisation catching up with corrupt public officials

In Summary

• Public officials in senior management roles especially accounting officers, finance officers and those in procurement departments would demand and receive large amounts of money, often in cash.

• Ms Muthui is believed to have bought assets, in cash, amounting to Sh264,500,000 in a period of three months during the demonetization period in 2019 so as to launder the illegitimately obtained cash.

On June 1, 2019, The Central Bank of Kenya (CBK) announced the withdrawal (demonetization) of the older series KES 1,000 notes.

The exercise was aimed at addressing the grave concern of ...

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