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The Bank of Zambia (BOZ) has expressed serious concern over the continued mutilation of both old and new banknotes, warning that such actions were illegal and punishable by law.
BOZ Assistant Director for Communications, Besnat Mwanza, said the central bank had observed images circulating on various media platforms showing banknotes being cut, buried, or burnt.
In a statement issued in Lusaka on Tuesday, Mwanza described the trend as retrogressive and a direct affront to the respect due to Zambia’s legal tender.
“Wilful defacing, soiling, or damaging of banknotes or coins that are legal tender is a punishable offence under Section 67 (1) (f) of the Bank of Zambia Act, 2022, carrying a maximum sentence of up to ten years imprisonment upon conviction,” Mwanza warned.
She stressed that producing banknotes and coins came at a significant cost to the nation and that the currency was designed to be durable and to circulate for several years.
“Improper handling of banknotes shortens their lifespan and raises the frequency and cost of replacement,” Mwanza added.
She called on the public to desist from acts that damaged the integrity of the national currency and to report any cases of currency mutilation to the Bank of Zambia or the Zambia Police.
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