Gov’t to Confiscate Old Notes over 100,000 Birr


Addis Ababa  October 16/2020 (ENA) National Bank of Ethiopia announced today that persons who carry over 100,000 Birr old notes in cash will be confiscated as the deadline for changing the notes expires tomorrow. 
National Bank Governor,  Yinager Dessie told journalists today that it is however legal to  change cash less than 100,000 Birr notes after tomorrow. 

According to him, the deadline for converting old 100,000 to 1.5 million Birr notes has expired.

The deadline which was set to change cash from 100,000 to 1.5 million Birr will not be extended, the governor said.

He further pointed out that the old Birr notes less than 100,000 birr will continue to be changed for two months; but the deadline may be shortened based on the performance. 

The governor underlined that the Bank will continue to work hard to convert the money in the hands of farmers and pastoralists.