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BEAC to withdraw new banknotes from circulation

The Bank of Central African States, BEAC is planning to gradually withdraw all the new 500, 1000 and 2000 FCFA notes that it recently put into the monetary system of central Africa. A very flippant but reliable source inside BEAC was quoted as saying that the central bank has realized the notes age relatively quickly and that the material that was used in the production does not last long.

The source also added that it has given users too much pain who often think that the notes are not authentic. Beac put into circulation banknotes made of plastic in March 2015. At the time, the monetary institution said they wanted to fight against rapidly aging process of the legal tender. As usual with Francophone, the governments of the Sub Saharan region using the currency issued statements welcoming the new notes. 

It is now evidently clear that the experts got it all wrong. Indeed the plastic that surrounds the new notes is deteriorating very quickly. An aging has often cause tensions between users who think that it is counterfeit.

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Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .

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