Central Bank of Liberia’s (CBL) deadline for exchange of the old banknotes has expired. The extended deadline expired on Wednesday, May 15, 2024.
Speaking Wednesday, the Communication Director of CBL, P. Alphonsus Zeon said the extension was to bring relief to citizens who have yet to exchange their old banknotes.
Mr. Zeon said the old banknotes will not be used for business transactions to buy goods and pay for services in Liberia as of expiration of the deadline.
He further said old banknotes will not be accepted at any commercial banks or community banks within the country.
“The level of exchanges now can only be done at CBL head office in Monrovia, Gbarnga Hut, Bong County and Cash Hut in Voinjama, Lofa County,” he said.
According to Zeon, the threshold for the exchanges at CBL is L$15,000 per person a day and bank cannot exchange above that amount.
It can be recalled that CBL Board of Governors convened an emergency meeting on Friday, March 29, 2024 and decided to extend the deadline from March 31, 2024 to May 15.
Factors such as challenging road conditions in southeastern and Lofa counties, the recent General and Presidential Elections, the intensity of the run-off Presidential Election and ongoing transitional processes have all contributed to delays in the currency exchange process.
