currency

The currency is still legal tender

The Central Bank of Trinidad and Tobago is confirming that there was a misprint on a few- “less than 100 in number”- of the $20 notes in circulation.

"This misprint shows up as one side of the note being blank for the most part," the Central Bank said in a statement on Thursday evening.

The Central Bank assured that the particular notes in question are valid legal tender and should be brought back to its office in Port of Spain for exchange.

"We also wish to remind the public of the need to be vigilant in recognising genuine banknotes," the Central Bank said.

Earlier this week, businessman Gary Aboud drew the public's attention to the one-sided $20 note via a now viral video on social media.

He said he received a stack of $20 bills from a commercial bank.

He said the money was sent through to payroll to pay staff salaries and it was then the defective note was discovered.

"We sent it back to the bank. The money came from Central Bank with a band on it but the bank wouldn't take it back from us. I'm not going to call the bank to embarrass them, but how many poor people this is happening to who have been receiving monies in either ATMs etc and the bank wouldn't take it back," Aboud said.

Speaking to the Express this morning, Aboud questioned why the Central Bank waited until now to inform the public about the “faulty money”.

“If they knew, why didn't they make it public in the first instance. Why did they wait until money was released and then start making statements,” he said.

“Central Bank is not checking their own money before being released to the public and it raises a doubt in the public’s mind as to the integrity of the money that is being circulated if Central Bank themselves, by way of admittance, have released faulty money,” he added.

Aboud said it is insensitive for the Central Bank to now ask people to travel “all the way” to Port of Spain to change the bill.

“If Central Bank is saying by admittance they have issued faulty money why doesn’t Central Bank instruct the commercial banks to give an exchange, because the commercial banks are not doing so,” he said.

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