Business

CBL vows two years’ imprisonment for would-be currency abusers

By New Dawn

Copyright thenewdawnliberia

CBL vows two years’ imprisonment for would-be currency abusers

By Lincoln G. Peters

The Central Bank of Liberia is set to launch a nationwide initiative aimed at preserving the dignity of the Liberian dollar through a new program named “Clean Note Campaign: Our Money, Our Pride.”

The official launch will take place on Friday, September 19, 2025, at the Rally Time Market in Monrovia.

The campaign comes in response to the alarming rate of currency mutilation caused by poor handling practices, including squeezing, writing, stamping, and exposing notes to dirt and moisture.

According to a CBL release, such practices have already damaged up to L$1 billion worth of the new banknotes introduced in 2022, an expense that costs the nation millions of dollars to replace.

The Clean Note Campaign aims to place citizens at the center of a movement to preserve the value of the Liberian dollar, rebuild confidence in the economy, and foster national pride.

The CBL release states that those found guilty of deliberately damaging the currency risk facing a fine of L$500,000 or up to two years’ imprisonment.

The campaign has received overwhelming support from key national stakeholders, including all nine commercial banks, the Liberian Marketing Association, the Liberia Business Association, and the National Association of Foreign Exchange Bureaus, among others.

Meanwhile, CBL Executive Governor Henry Saamoi has underscored the importance of the campaign, stressing that it goes beyond protecting paper notes.

He added that the launch marks the beginning of a sustained nationwide effort, calling on the public to actively support the campaign, participate in awareness activities, and champion the message: “Our Money, Our Pride – Handle It with Care.”