No more opposition to the use of coins and banknotes in Benin, according to the Minister of Economy and Finance who reacts to the phenomenon in a press release.

"I have been reminded of the resurgence of the phenomenon of rejection of coins and banknotes issued by the Central Bank of West African States (Bceao), on the grounds that the coins are altered, smooth, would have lost their luster or that the banknotes are crumpled and would no longer be valid”, said Romuald Wadagni, Minister of Economy and Finance in a press release, this Thursday, September 3, 2020.

According to the Minister, this situation has led to incidents in several localities where transactions between economic agents could not be resolved. Thus, he wishes to reassure the populations that the smooth coins, having lost their luster or mutilated and the crumpled banknotes issued by the Bceao are still legal tender and have legal tender throughout the national territory and in all countries of the West African Monetary Union (Umoa). “They cannot therefore be refused in the context of economic transactions,” says Romuald Wadagni.

"I remind the populations holding mutilated coins or coins that have become smooth, as well as banknotes crumpled by use, that they can exchange them free of charge at the Bceao counters", he advises before recall that the refusal to receive currency that is legal tender in a member state of UMOA is punished by the heads in force.