FCFA Coins: Users Shun Smaller Denominations

BEAC says it releases coins of smaller denominations, but vendors and service providers turn them down.

It has emerged that vendors and service providers in the city of Yaounde and other parts of the country continue to turn down FCFA coins of smaller denominations; especially FCFA One, FCFA two, FCFA five, and FCFA 10, during business transactions. The lukewarm attitude has in turn pushed users to shun the coins issued by the Bank of Central African States (BEAC).
A trader accosted yesterday at the Central Market in Yaounde was issued 20 FCFA 25 coins in return for his merchandise, but the trader turned it turn, despite the fact that his product was about to be purchased at a good price. “I don’t take such coins,” the petty trader replied in broken French, noting that he could change as much as a FCFA 10,000 note rather than receive the coins. Reminded it is criminal to refuse to accept a legal tender in force, he replied: “Even the judge who will rule on such a case would not take these coins.”
Cameroon Tribune observed that in some supermarkets and public utility companies, users are reimbursed with such smaller denominatio...



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