UNITED STATES WILL NOT REJECT OLD DOLLAR NOTES

There have been multiple online reports claiming that by January 31 2023, the United States dollar notes issued before 2021 will no longer be accepted as legal tender. “USA moves to checkmate dollar stockpile in Africa,” and similar headlines published by some online news outlets in Nigeria being widely reported is FALSE. 

The claim that the government of United States of America (USA) “has set date for restriction on an acceptable legal tender note of US Dollar which will commence on Jan. 31st 2023” is a false alarm. However, there is no evidence that shows the US is issuing new dollar notes

The RawFact gathered, having checked the official website of the US department of the treasury, the national finance and treasury office of the federal government, and found no such announcement. Further checks also revealed that no reputable news media, both in the US and Nigeria, published reports on dollar redesign and the interest of the United States to reject any dollar note issued before year 2021.

The US federal reserve board currently issues seven denomination of dollar notes, which includes $1, $2, $5, $10, $20, $50, and $100. According to information available on the website of the US Currency Education Programme, the current design of the $100 note, issued on October 8, 2013, is the latest denomination to be redesigned. The $1 note, issued in 1963, and featuring former President George Washington has never been changed.

The US government periodically redesigns federal reserve notes to make them easier to use, and more difficult to counterfeit. Therefore, all US currency remains legal tender regardless of when it was issued.

The US Currency Education Programme which provides education, training, and information about federal reserve notes emphasizes that “it is U.S. government policy that all designs of U.S currency remains legal tender, regardless of when they were issued”. The claim that the US has redesigned dollar notes and will reject all old notes from January 2023 is false.


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