The Central Bank of Kenya (CBK) has issued a warning to supermarkets that offer sweets, airtime or matchboxes as a substitute for monetary change, citing shortage of coins.
CBK Governor Dr Patrick Njoroge dismissed the notion (of coin shortage), stating that there was adequate coins circulating in the market.
"There is an adequate stock of coins and the CBK has issued commercial banks with sufficient quantities of Kenya currency coins to facilitate smooth settlement of transactions," Njoroge said.
In a press statement, the CBK Governor added that it was against the law to deny customers the possibility of obtaining their change in monetary form, or the opportunity to agree to
settle the transaction in any other form.
Dr Njoroge cautioned Commercial banks, supermarkets and other entities to refrain from such practices and urged
Commercial banks to constantly ensure that coins are re-circulated efficiently at all times to their respective
customers.
CBK instructed members of the public to report any difficulties experienced while using coins as a means of exchange to any Branch or Currency Centre of the Central Bank of Kenya.
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