Monrovia – The Central Bank of Liberia (CBL) has launched the “Clean Note Policy Campaign” to address the increasing mutilation of Liberian dollar banknotes.
The initiative, launched today at the Rally Time Market in Monrovia, is operating under the theme: “Our Money, Our Pride,” and aims to curb the overwhelming mutilation of Liberian banknotes.
Speaking at the official launch of the campaign, CBL Deputy Director for Banking, Madam Juah Karmbor Feika, said Liberians must view the Liberian dollar as a symbol of national pride.
“I want to remind all of us here that our country’s currency, the banknotes, the coins, they are not just a medium of exchange; they are a national symbol that must be respected because we all take pride in our country,”
She continued, “If we keep our money clean and handle it properly, it will reduce the cost of replacement and will increase confidence in the currency.”
Madam Feika emphasized that since the currency represents Liberia, it should be kept clean and handled with care, adding that doing so will reduce the cost of replacing mutilated Liberian dollar banknotes.
“This is a shared responsibility; you have your part to play and I have my part to play. Let us leave from here with the commitment that we will spread the news out there and be the ambassadors,” she admonished.
She warned that “no one should write on the Liberian dollars (banknotes and coins),” and added, “don’t rub oil on them, don’t squeeze them, don’t rumple them, because it is the country’s national pride.”
The CBL’s campaign comes in the wake of a significant increase in mutilated Liberian dollar banknotes, which has reached a staggering 1.2 billion Liberian dollars.
The CBL stated that replacing such a large amount of money would require millions of United States dollars that could be used for other beneficial projects for the Liberian people.
Recently, the CBL announced that anyone caught in any practice that has the potential to mutilate a Liberian banknote will face a penalty of L$500,000.00 or a two-year prison sentence.