Accept the old money as legal tender 

Amid confusion over the legality of the old Liberian banknotes, which is impeding daily market transactions, the Central Bank of Liberia calls on the public to accept the old banknote as a medium of exchange even beyond its validated deadline of March 31, 2024.

By Emmanuel wise Jipoh 

Monrovia, March 24, 2024 — The Executive Governor of the Central Bank of Liberia is urging the public to accept all old Liberian Bank notes as a medium of exchange on the Liberian market. 

Amidst confusion in the market regarding acceptance of the old Liberian Bank Notes, Governor J. Aloysius Tarlue says the money should be accepted as a medium of exchange even beyond its March 31, 2024, validated deadline.

Governor Tarlue stresses that the old Liberian notes remain valid, and the public’s continuous refusal will hinder smooth market transactions.

In an interview with the New DAWN, Governor Tarlu clarified that although the CBL had set a deadline of March 31, 2024, to phase out the old banknotes from circulation, they remain legal tender beyond the deadline.

He defends its existence as a legal tender that facilitates circulation of the new banknotes, saying the old ones will spread the new ones.

Concerns have arisen in the Liberian market, as some vendors refuse to accept the old banknotes, citing fear of their validity in the wake of the March 31, 2024, deadline announced by the Central Bank.

However, the Executive Governor pleads with vendors and citizens alike to recognize the legitimacy of the old currency and facilitate its exchange either at commercial banks or directly with the Central Bank.

The plea comes amidst confusion and hesitancy in the public about the usage and acceptance of the old banknotes despite their continued legal status. 

As the March 31 deadline approaches, Governor Tarlue’s statement aims to reassure the public and encourage a smooth transition to the new currency. Editing by Jonathan Browne