Concerns over the fate of withdrawn Gambian banknotes continue to grow in several quarters.
It’s the best operational practice in central banks across the world to withdraw mutilated and worn-out currency banknotes from circulation.
The quality of the dalasi notes has rendered them susceptible to mutilation and wear and tear.
Concerns have been growing in some quarters about the fate of withdrawn banknotes. Some people have grown suspicious about the possibility of a re-injection of these currency banknotes into the economy, which could have huge ramifications on the masculinity of the already weakened dalasi.
“There needs to be accountability and transparency around these withdrawn banknotes because people need to know how they are being disposed of and when. This will help in providing answers to many questions, regarding them,” businessman Musa Jaw told our reporter.
“The dalasi is in a negative territory and we cannot afford to watch it slip further down in the turmoil it found itself. Anything that can further erode its value must be checked,” a school teacher, who spoke to this medium on condition of anonymity, said.
Sometime last year, the Central Bank of the Gambia promised to explain how withdrawn banknotes were being managed but it has yet to deliver on that promise.
