Njunge wrote:Queen wrote:Lolest! wrote:Simon Mbugua (MP) & Okiya Omtatah have already moved to court separately to block the issuance of new notes
Whereas Okiya is doing it out of service to humanity, we all know who Simon Mbugua represents. Kanukeee!
They may succeed in stopping the issuance of new notes but can they stop de~legalizing of the 1K note?
I believe the new notes have already been issued so if the judge maintains status quo it means it is easier to obtain judgement against demonetizing the old notes.
I can also foresee many cases of ukora coming in. Imagine a case of biashara people who sell things on credit. You give goods and the guy pays a few months later. The writing on all notes new or old reads "legal tender for 1000 shillings."
Someone owes you 1 million and then on October 15th he comes and gives you your 1 million in old notes. If he is conniving enough he can film the entire exchange coming into your office and putting 1 million cash on the table and then leaving. Of course you will be protesting and saying this is not legit. He leaves the money with you and runs away and says, "take me to court, I have paid your money."
Of course cases are not determined on the spot so there will be a case in court for years in which you claim you gave the man goods worth 1 million and he never paid you. He will say he actually paid you. He will claim he does not manufacture money and only uses the legal tender issued by CBK. The notes he gave you back were legal tender. There is no expiration date written on the note etc etc.