October 12, 1988: President Moi launches a Sh500 bank note which has been introduced by the Central Bank of Kenya. The note went into circulation immediately. The President said the new note, which also marks the Nyayo decade, would meet the transaction needs of the wananchi and facilitate more efficient handling of currency. President Moi was addressing banking and financial executives during a luncheon hosted by the Governor of the Central Bank, Mr. Eric Kotut, at the bank. President Moi also received from Mr. Kotut. a cheque for a record dividend of Sh1.3 billion which is 90 per cent of the record 1.5 billion profit made by the bank. He also received a Sh500 commemorative coin to mark the Nyayo era. President Moi said the country had maintained a high rate of economic growth despite many difficult challenges, and the Government had ensured that the benefits of that growth had been equitably distributed to improve Kenyans’ well-being.

Photo|Nation Syndication