The Bank of Namibia (BoN) has issued a stern warning against the wilful damage or defacement of the national currency, following the circulation of videos and pictures on social media depicting isolated acts of currency mutilation. The Bank strongly condemned these actions, emphasizing that tampering with legal tender is a serious criminal offense.
The central bank reiterated that any act of damaging, defacing, or destroying Namibian banknotes and coins is strictly illegal under Section 80(3)(a) of the Bank of Namibia Act, Act No. 1 of 2020.
The Act stipulates severe penalties for conviction, which include a fine of up to N$50,000 or imprisonment for a period not exceeding three years, or both. The Bank stresses that these isolated acts are not signs of currency weakness but criminal offences that undermine national pride, unity, and economic sovereignty.
Integrity and Security of National Tender
In its statement, the BoN affirmed the high quality and security of the nation’s legal tender. “Our upgraded banknotes and coins are secure, durable, and meet international standards for quality,” the statement read.
The Bank highlighted that Namibia’s currency is a vital representation of the country’s national pride, unity, and economic sovereignty. Damaging the currency undermines its integrity and the public trust placed in it by all Namibians.
The Bank of Namibia is urging the public to exercise responsible stewardship of the national currency, reject the spread of misinformation, and report any content that misrepresents or defaces Namibian money.
The statement concluded with a powerful call to action: “Let us safeguard the integrity of our legal tender, for the benefit of current and future generations.”
