New K50 note is legal tender-BoZ

New K50 note is legal tender-BoZ

THE Bank of Zambia (BOZ) has embarked on a sensitisation campaign countrywide following the launch last week of the commemorative K50 banknote by Finance Minister Alexander Chikwanda in Lusaka.

BOZ manager for security operations, Kedrick Zombe, said that the commemorative K50 note was a special way of recognizing the five presidents that have ruled the nation since 1964.

Mr Zombe said the decision by BOZ to issue the K50 banknote was not  strange but that central banks world over issue commemorative banknotes and coins to mark important events of both national and international importance.

He said this had been done as a way of celebrating the 50 years of independence  Zambia had attained.

Mr Zombe added that the commemorative K50 note and the ordinary K50 note would both be in circulation and run alongside each other, adding that both notes should be treated as legal tender.

He has since urged residents of Mchinga Province  and Chinsali district in particular not to reject the new banknote as it was a crime to reject or refuse legal tender. Apart from the portraits and  names of all the presidents Zambia has had since independence in place of the leopard  on one side of the bank note, other features are the words ‘’50TH Independence Anniversary’’  on the reverse side of the note.