A National Call to Action: Protecting the Liberian Dollar
The Central Bank of Liberia (CBL) has launched a bold initiative aimed at safeguarding the nation’s currency and promoting a sense of national pride among its citizens. The campaign, titled “Our Money, Our Pride,” emphasizes the importance of treating the Liberian dollar with respect and care. This effort comes as a response to growing concerns about the careless handling of banknotes, which is not only damaging the economy but also undermining the country’s identity.
The Legal Consequences of Misusing Currency
As part of the campaign, the CBL has made it clear that any individual caught defacing or destroying Liberian banknotes will face severe legal consequences. According to the law, offenders could be fined up to L$500,000 or sentenced to two years in prison. This message was delivered during an event held at Rally Time Market in Monrovia, one of the city’s busiest commercial areas. The choice of venue was deliberate, targeting sectors where the misuse of money is most visible.
Madam Juah K. Feika, Deputy Director of the Banking Department, highlighted the financial toll of this behavior. She noted that the government spent US$25 million on printing a new series of banknotes in 2022, yet many of these notes are being spoiled at an alarming rate. Recently, the CBL printed L$48.74 billion in new Liberian dollars, but within a short time, L$1 billion of those notes had already been destroyed or mutilated.
“This is unacceptable,” Feika said. “Every time we print money, we spend money. That money could have been used for teachers’ salaries, road construction, hospitals, and development projects. We cannot continue like this.”
A Symbol of National Identity
Feika emphasized that the Liberian dollar is more than just a medium of exchange—it is a symbol of the nation’s identity and pride. She compared the treatment of money to the way people honor the Liberian flag. “When the flag is raised, we stand in respect. The same way we honor our flag is the way we must honor our money. If we disrespect our currency, foreigners will disrespect it too.”
She pointed out that actions such as folding, squeezing, writing on, or exposing money to oil and water show a lack of respect for the national symbol. Market women often store money in oily plastic bags, while motorcyclists keep it squeezed between their fingers. These habits contribute to the rapid deterioration of the currency.
Addressing the Rejection of Damaged Currency
Another key issue addressed by the CBL is the widespread rejection of damaged or torn Liberian dollars in markets and shops. Feika urged citizens to take torn money to the bank instead of refusing it. “If you reject it, what will foreigners do? Do not reject Liberian dollars. If it is torn, take it to the bank. The banks will receive it. And if they refuse, call the Central Bank immediately.”
She warned that rejecting the national currency undermines public confidence and weakens the economy. The CBL also highlighted the misuse of coins, which are sometimes melted down for scrap instead of being used for trade. Feika stressed that coins should only be used as a medium of exchange.
Enforcing the Law and Raising Awareness
The CBL made it clear that defacing or destroying Liberian currency is against the law. “This is not only a plea—it is the law. If you spoil money and are caught, you will be fined L$500,000 and sentenced to two years in prison. We don’t want to see anyone in trouble, but we will enforce the law.”
The warning drew murmurs from the crowd, with many admitting they were unaware of such a law. The CBL emphasized that awareness is the first step, but enforcement will follow.
Expanding the Campaign Nationwide
To ensure the message reaches every citizen, the CBL has outlined an ambitious outreach strategy. Mr. P. Alphonsus Zeon, Head of Corporate Communications, explained that daily announcements will be made in markets using megaphones. Motorcyclists will also carry the message across the country. The campaign will begin with major markets and gradually expand to smaller ones.
The CBL plans to use radio dramas, jingles, talk shows, flyers, and market announcements to reinforce the campaign. Financial education teams will travel from village to village, town to town, to educate citizens directly.
Encouraging Digital Payments
In addition to promoting clean cash, the CBL aims to reduce reliance on physical currency by encouraging the use of digital financial services. Zeon stated that reducing the use of cash could save money, but for now, the focus remains on keeping the existing cash clean.
A Shared Responsibility
At the heart of the campaign is the message of shared responsibility. Feika emphasized that the Liberian dollar belongs to all citizens. “If we keep it clean, we reduce costs, increase confidence, and show pride in our nation. This is about respect—for us, for our country, and for our future.”
The CBL believes that without a cultural shift in how Liberians treat money, the cycle of costly reprinting will continue. By linking the cost of printing money to lost opportunities in education, healthcare, and infrastructure, the Bank hopes to make citizens see currency care as a matter of patriotism and economic survival.
The Clean Note Campaign will roll out nationwide over the coming months, beginning with Monrovia’s largest markets and extending into the counties. Financial education teams will partner with local leaders, schools, churches, and mosques to spread the message.
“Talk to your children. Talk to your mothers and fathers. Talk to your neighbors. We must all join hands to keep our money clean. This is not just for us—it is for Liberia,” Zeon concluded.
The CBL says the campaign is just the beginning. In the long run, greater adoption of digital payments could reduce the strain on physical banknotes and help Liberia save millions annually.
