GBARNGA, Dec. 11 (LINA) – The Central Bank of Liberia (CBL) through a team headed by its Deputy Head of Communications, Mr. Francis Wilson, has launched an awareness campaign in Bong County on the use of Mobile Money by citizens to pay for goods and services across the country.
The process, Mr. Wilson said, is to enlighten the minds of Liberians about purchase and sale through mobile money as it will help reduce the use of physical cash.
He said the process will also help to protect banknotes against mutilation on the Liberian market.
Meanwhile, the CBL Deputy Head of Communications is encouraging citizens across the county to begin using mobile money effectively and conveniently because, according to him, it is the modern way of transaction in developed countries.
The use of mobile money, Mr. Wilson told LINA in Gbarnga Tuesday, is in accordance with the operations of the two GSM companies — Lone Star and Orange — in the country.
He noted that focusing on the use of physical cash results to the mutilation of banknotes and also puts a person at high security risk, as money is stolen from those who keep cash money outside of banking institutions.
The CBL official expressed concern about the country losing millions of United States dollars to print new banknotes every time, noting that funds used to print new banknotes could be diverted to building infrastructure, including hospitals and roads in the country.
In a related development, Mr. Wilson has attributed the current shortage of Liberian dollars at various commercial banks to what he described as “people’s failure to save money in the banks”, adding, the current county awareness campaign on the use of mobile money to pay for goods and services will cover the entire country.
