Published: April 9, 2026
MONROVIA — Liberians making cash withdrawals in Liberian dollars will now receive coins whether they want them or not, under a new Central Bank of Liberia policy taking effect Monday.
The directive, announced by CBL Executive Governor Henry F. Saamoi, is aimed at addressing the long-standing problem of poor coin circulation across the country, despite coins being recognized as legal tender under Liberian monetary regulations.
“Coins are part of our currency and must be accepted for all transactions,” Saamoi said. “Rejecting coins is not just wrong — it is a violation of Liberian law governing legal tender.”
The CBL, in collaboration with the Liberia Bankers Association, will enforce a 1% coin distribution rule on all over-the-counter Liberian dollar withdrawals. A customer withdrawing L$5,000 will receive L$50 in coins as part of the total payout.
The policy is designed to push coins back into active circulation, particularly for small-value transactions such as market purchases, transportation fares and petty trading, areas where coins are most practical but widely rejected.
For years, many businesses and individuals have refused to accept coins, citing inconvenience or lack of utility. The CBL says the behavior has created an artificial scarcity of usable lower denominations, straining paper currency supply and undermining everyday commerce.
To address operational challenges raised by commercial banks, the central bank has expanded logistical support by increasing the number of coin-sorting machines provided to each institution. Previously, banks had one machine each; they will now operate with three, improving their capacity to count, sort and redistribute coins efficiently.
Saamoi stressed that coins were never meant to remain idle in bank vaults and are essential tools for facilitating trade, especially among low-income earners and participants in the informal sector.
He also issued a warning to government officials, urging them to lead by example and comply fully with the new policy.
“If you are a government official and you withdraw Liberian dollars, you must accept coins,” he said. “Do not call the central bank to complain. I will not intervene.”
The statement signals a tougher enforcement posture by the CBL, which has indicated that penalties may be applied to individuals or businesses that refuse to accept coins. Public awareness campaigns are also expected to accompany the rollout to reinforce compliance nationwide.
Liberia Bankers Association President Lekan Balogun welcomed the initiative, noting that the additional machines will enhance the banking sector’s ability to handle coins more effectively.
“Coins are legal tender and should be accepted just like banknotes,” Balogun said. “They are more durable and cost-effective compared to paper notes, which are expensive to print and replace.”
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