— USA MOVES TO CHECKMATE DOLLAR STOCKPILE IN AFRICA
IPNEWS: Amidst a controversial report by Routers News reporter, that consequence of the just concluded extraordinary meeting held in Washington DC on Nov. 2nd, 2022, between the United States Federal Reserve Bank, Office of the Comptroller of Currency, IMF, World Bank, and Governors of Africa’s Central Banks, the United States Govt has set date for restriction on an acceptable legal tender note of US Dollar which will commence on Jan. 31st, 2023.
IPNEWS understands that fear has gripped past and current officials over the latest plan by the U.S. government to discard all banknotes below 2021.
According to IPNEWS investigation, there have been movements of deposits at several commercial banks in Liberia, and refusal to accept older U.S. Banknotes due to reports that the restriction implies that any US Dollar note below the 2021 printed date will no longer be accepted or be a legal tender anywhere in the world.
The reported plan by the U.S. Treasury Department which has sparked panic among politicians and government officials across Africa, says the decision is an effort to curb billions of illegal monies in dollar bills warehoused around the African continent emanating from drug-related, terrorism, kidnapping, and money from corrupt politicians.
As part of the enforcement of the strict action plan, African central banks will be assigned a special agent from the Office of the Comptroller of Currency, Administrator of the National bank United States of America to checkmate all inflows and outflows of dollar transactions.
The report also has it that the US president has also written to British Government and European Union to tour the same line and redesign their currencies accordingly to frustrate those with ill-gotten money in the US dollar, British Pound Sterling, and Euros.
Should this action be implemented come January 2023 as reported, Nigerian corrupt politicians will be worse hit.
The anticipated crackdown comes a week after several central Banks across Africa, including the Central Bank of Nigeria (CBN) announced the resignation of some of their banknotes including N200, N500, and N1,000 notes, which will be effective from mid-December 2022.
According to Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, one of the factors that influenced the redesign of the naira notes is the “significant hoarding of banknotes by members of the public”
Here in Liberia, the Central Bank expressed similar feeling and quickly move into the introduction of new family banknotes which has now seen coins and other high-figure banknotes for easy carry-over and transaction.
The US federal reserve board currently issues seven denomination of dollars notes, which includes $1, $2, $5, $10, $20, $50, and $100.
According to information available on the website of the US Currency Education Programme, the current design of the $100 note, issued on October 8, 2013, is the latest denomination to be redesigned. The $1 note, issued in 1963, and featuring former President George Washington has never been changed.
The US government periodically redesigns federal reserve notes to make them easier to use, and more difficult to counterfeit.
In all this, the US Currency Education Programme which provides education, training, and information about federal reserve notes emphasizes that “it is U.S. government policy that all designs of U.S currency remain legal tender, regardless of when they were issued”.
The US CEP added that the policy includes “all denominations of federal reserve notes, from 1914 to the present”.
“All US currency remains legal tender regardless of when it was issued”. Another quote read in the U.S. Treasury education column
The reported crackdown on U.S. Banknotes dated below 2021, has sent uneasiness across the African continent with top politicians in the West African states of Liberia, Nigeria, Senegal, Ivory Coast, and Gabon, among others terming the claims that the US has redesigned dollar notes and will reject all old notes from January 2023 as false.
The Financial Intelligence Unit of Liberia (FIU) was established as an autonomous agency of the Government of Liberia (GOL) by the Act of the National Legislature in 2012 (FIU Act, 2012 approved on April 30, 2013, and published on May 2, 2013), is the central, national agency of Liberia responsible for receiving, requesting, conducting preliminary investigations, analyzing and disseminating information to competent authority concerning suspected proceeds of crime and terrorist property. Credit: written by Our Reporter November 5, 2022, Routers News
