BoT deplores banknote change social media rumor

03Sep 2017
Francis Kajubi
Guardian On Sunday
BoT deplores banknote change social media rumor

The Bank of Tanzania (BoT) has strongly refuted social media information that it intends to change the banknotes from December this year.

BoT Currency Manager Gift Amon told The Guardian on Friday that he has been receiving calls requesting details on the matter.
The information has been streaming on instagram, WhatsApp, facebook and twitter social media.

According to information on social media, he says it is claimed the banknotes for change would include the Sh500 to Sh10,000 denominations.

The message on whatsapp read, “The BoT announces that it will allow changes of old banknotes worth Sh500 to Sh10,000 as from September 4 to November 30, this year,” urging the public to take the banknotes to banks.

It further claimed that the banknotes will no longer be in circulation as of December this year and that banknotes are to be exchanged at all approved financial institutions.

Semu Mwakyanjala, the Acting Corporate and Communication Manager at the Tanzania Communication Regulatory Authority (TCRA) said that TCRA is working hand in hand with the police to curb the spreading of the false information whose reach was growing day after day.

“I would like to assure you that we are going to assist the police apprehend the respective persons who posted the message,” he said.

He said that TCRA will soon apprehend whoever is circulating such information where legal action will be taken against them.

He urged the public to use the social network platforms to generate income by doing legal businesses instead of posting false and misleading information that at end of the day would put them in trouble.