Seven Arrested For Rejecting Bond Notes

Seven arrested for rejecting bond notes- iHarare
Seven arrested for rejecting bond notes
Police arrest seven for rejecting bond notes- iHarare
Paul Nyathi

In an interesting development, police arrested seven traders for rejecting bond notes.

Police have followed up their words with action following a statement earlier this week threatening to deal with traders rejecting bond notes. Traders have been rejecting notes inscribed ‘bond notes’ in preference for those inscribed ‘dollars’.

Some traders are listing their prices in United States dollars following a Government directive that the currency was now legal tender during the COVID-19 lockdown. Traders prefer the US dollar because it is more stable than the local currency whose value is eroded by inflation.

The Herald reports police arrested seven traders in Harare and they were expected to appear in court soon.

In a statement published by The Herald, national police spokesperson Assistant Commissioner Paul Nyathi urged members of the public to report any person, trader, or institution rejecting bond notes.

Nyathi said:

The ZRP will ensure that all laws meant to protect the public and promote the effective maintenance of law and order in the country are enforced without fear or favour.

Earlier in the week, The Grain Millers Association of Zimbabwe (GMAZ) this week also threatened to stop supplying their products to wholesalers and shops refusing bond notes and coins.

Members of the association produce and pack maize-meal, self-raising flour, salt, rice, sugar beans, and soya chunks.

Government and the Reserve Bank of Zimbabwe (RBZ) have also released statements saying traders are legally bound to accept bond notes as they are still legal tender.

The government said it will gradually replace bond notes with notes inscribed dollars.

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