Maseru, Feb. 10 — The Central Bank of Lesotho (CBL) has raised concern over the circulation of counterfeit banknotes that have been detected in some parts of the country, warning the public to remain vigilant and familiarize themselves with the security features of the new currency.
Speaking in an interview with the Agency on Tuesday, the Chief Corporate Communications at the Central Bank of Lesotho, Mr. Ephraim Moremoholo said that the bank is intensifying public awareness campaigns to curb the spread of counterfeit notes and protect consumers from financial loss.
Mr. Moremoholo said that the Central Bank continues to educate the public on how to identify genuine banknotes, noting that extensive awareness programmes are already underway through various media platforms.
“We continue to educate the public about the new currency features, as you may have seen or heard some of the Bank’s advertisements across various media outlets,” he said.
He explained that the new banknotes were designed with advanced security features that make them difficult to counterfeit, adding that public knowledge remains a key line of defence against the circulation of fake currency.
“We hope every Mosotho will learn from these campaigns to avoid becoming victims of counterfeit notes,” Mr. Moremoholo said.
Moreover, Mr. Moremoholo encouraged the public to carefully check banknotes during transactions, especially in cash based businesses, public transport operations and informal trading spaces where counterfeit notes are often introduced.
He further urged individuals and businesses who suspect that they have received counterfeit money to immediately report the matter to the nearest police station or the Central Bank, rather than attempting to pass the notes on to others.
Furthermore, Mr. Moremoholo emphasized that circulating counterfeit money is a criminal offence and poses a serious threat to the country’s financial system and economic stability.
“Public cooperation is crucial in ensuring that counterfeit notes are removed from circulation. Everyone has a role to play in protecting the integrity of our currency,” he said.
The Central Bank of Lesotho has since reiterated its commitment to working closely with law enforcement agencies and other stakeholders to combat the production and distribution of counterfeit currency across the country.
In the coming weeks, the Bank is expected to deliver messages in person in the districts of Qacha’s Nek, Quthing, Mohale’s Hoek, Mafeteng, Maseru and Thaba-Tseka still raising awareness on counterfeit notes.
Ends/NT/tl
