Economics

CBK Warns Traders Against Receiving Payments in form of Exposure

The Central Bank of Kenya is now warning traders that exposure is not a legal tender and may not be accepted universally as a form of payment.

This comes after the number of young people who have been insisting that they can pay in form of exposure at the supermarkets and shops increased gradually. This is because most employers have resulted to paying people in form of the same.

CBK governor Patrick Njoroge warned that although people have tons of exposure, it does not mean that it will be accepted universally. “We understand that many young people especially artists are usually paid in exposure and even KRA has expressed plans to tax the same. However, just like bitcoins, this is not a legal tender and we shall not accept it.”

The news is a big blow to young Kenya who had always thought they can redeem their exposure the same way they do with Bonga points.  To make it worse, the same employers who pay in exposure do not accept the same as payment, just like those supermarkets that give sweets instead of change.

One young man was distraught. “I have been sitting on a hill of exposure hoping one day I will redeem that and buy a car. Seems like CBK has pulled the rug under our feet, although my employer insists that I shall continue to be paid in exposure for the next nine months.”

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