MATHEWS MALAZIKA
Lusaka
THE Bank of Zambia (BoZ) has cautioned businesses against rejecting the old banknotes before their validity expires this monthend.
And BoZ Governor Denny Kalyalya says the old coins will not be withdrawn from circulation and will continue to be legal tender even after March 31 until they finish on their own.
Dr Kalyalya said in an interview that there are still a number of days during which the old notes will still remain legal tender.
There are reports that some shop owners in townships have already started rejecting the old currency.
“We still have a number of days remaining for those notes to remain in circulation. So, please, accept these notes because they are still legal tender until 31st March, that is when they will cease to be legal tender.
“The coins will not be withdrawn. They will continue being legal tender even after 31st March,” he said.
Dr Kalyalya said BoZ has enough new notes which people should also utilise as they wait for the expiration of validity of the old ones.
And economist Trevor Hambayi says no citizen should go against the set date of March 31, 2026 by BoZ for continued use of the old currency.
He said the central bank should enforce regulations which oblige people to accept the banknotes as they are still valid.
“It is an issue where the central bank must heighten public sensitisation with regards to the fact that the old notes are still acceptable,” Mr Hambayi said.
He said shop owners who are rejecting the old notes are inconveniencing buyers by forcing them to find news notes for them to be able to procure goods and services.
Mr Hambayi also urged the public to exchange the old notes with the new ones at various commercial banks….https://enews.daily-mail.co.zm/welcome/home
