By Jane Nambi
Bank of Uganda is worried about the deadline of fazing out old bank notes due to the slow response by the public.
Last year, Bank of Uganda (BOU) have March 30th as the deadline for fazing out all old bank notes. Meaning, after the deadline, all old notes will cease to be acceptable. The notes range from the old notes of sh1,000, sh5,000, sh10,000 and sh20,000. The old bank notes also include the old note of sh10,000 for CHOGM.
Despite the fast approaching deadline, the bank has so far registered only 30% of the old bank notes while the 70% is still in circulation. However, it vows to maintain the deadline.