The Bank of Central African States, known by its French acronym BEAC, has set May 31, 2024, as the latest date that it will receive banknotes, which have been circulation since 1992.
According to Herve Ndoba, Chairman of BEAC’s Ministerial Committee, people will have three months, that is, March 1 – May 31, 2023, to exchange the 1992 banknotes for new ones.
Meanwhile, from June 1, 2023 to May 31, 2024, people will only exchange the 1992 notes at the counters of BEAC and no longer at commercial bank counters.
Herve Ndoba said BEAC will begin withdrawing the 2002 banknotes, which constitutes most of the old banknotes in circulation, as from January 1, 2024.
Cameroon joined other Central African States to introduce new banknotes on December 15, 2022, based on a decision by the Ministerial Committee of the Central African Monetary Union (UMAC).
Mimi Mefo Info