Bank of Zambia Condemns Currency Mutilation, Warns Offenders Face Jail Time
The Bank of Zambia (BoZ) has issued a strong warning against the rising trend of currency mutilation, following disturbing reports of both old and newly introduced Zambian banknotes being defaced, burnt, cut, or buried.
In a press statement released today, BoZ expressed concern over images circulating on social media platforms depicting deliberate acts of currency destruction. The central bank described these actions as “retrogressive” and an affront to the legal tender status of the kwacha.
BoZ reminded the public that damaging currency is a serious offense under Section 67 (1)(f) of the Bank of Zambia Act of 2022, carrying a potential sentence of up to ten years imprisonment upon conviction.
“Banknotes and coins are costly to produce and are meant to circulate for several years. Deliberate mutilation not only shortens their lifespan but also burdens the national treasury with avoidable replacement costs,” the statement read.
The Bank called on the public to handle currency responsibly and report any incidents of defacement to law enforcement or the Bank of Zambia. Citizens are also urged to play their part in preserving the integrity of Zambia’s legal tender.
The statement was signed by Ms. Besnat Mwanza, Assistant Director – Communications.
