IPNEWS: The Central Bank of Liberia says the old Liberian Banknote is no longer in use after it give three months for citizens to exchange mutilated and old Banknotes at commercial Banks.
The CBL has at the same time sets a L$15,000 threshold for each person still holding the old notes to deposit daily.
Alphanso Zeon, Head of Public Communication, disclosed that the extended deadline for the exchange of the old Liberian Banknotes has climaxed as of Wednesday, May 15, 2024, however, a threshold of Fifteen Thousand Liberian Dollars in the possession of anyone to be deposited at the central bank to be exchanged with the new currency in a short period of time.
According to him, irrespective of whatever huge quantity of cash an individual may have, the bank will only accept the L$15,000 per person daily until a final conclusion is reached to completely end the process.
While emphasizing that the old banknotes are now considered illegal tender, he urged the citizens and business owners to take advantage of the new threshold set to avoid embarrassment and financial losses at their own expense.
Mr. Zeon stressed that moving forward, no citizen is allowed to transact any activity across the country with the already expired banknotes, indicating that anyone doing so is acting illegally.
He added that those in possession of the old Liberian money will no longer exchange said cash at the commercial bank except the Central Bank of Liberia but only on May 15, 2024.
