P4 million in old banknotes is still out there - BOB

Over P4 million in Botswana's old P5, P2 and P1 banknotes is yet to be returned to the BoB five years after the central bank first announced it was collecting the notes from the public.

Since that call was made, only 23, 001 banknotes to the value of P104 ,004 were returned to BoB between 2006 and 2011. BoB says banknotes not returned by close of business on 30 June 2011 will be written off the books of the bank. When the call was first made in 2006, BoB estimated that a total of P4,287, 696 in the old notes was still held by members of the public. BoB's communications manager, Andrew Sesinyi, says the central bank has been collecting the notes at face value for the benefit of the public and that there is no benefit to BoB in the exercise.