Fack Checked: Never True, USA Moves To Checkmate Dollar Stockpile In Africa

Fack Checked: Never True, USA Moves To Checkmate Dollar Stockpile In Africa

1. In what appears to be a hoax publication and the spread of false information, there is a wide circulation of articles with the title “USA moves to checkmate dollar stockpile in Africa”

2. According to the publication, the move could force those hoarding dollar bills in warehouses in Africa to bring them out

3. The publication received a wide boost of acceptance on the back of the appreciation of local currencies against the dollar, especially in Ghana, implying the release of hoarded dollar bills accounts for appreciation of the local currencies.

3. “USA moves to checkmate dollar stockpile in Africa,” is the headline of a report by TheNewsNigeria, for an example

4. One of such publications claimed the USA “has set date for restriction on an acceptable legal tender note of US Dollar which will commence on Jan. 31st 2023. The restriction implies that any US Dollar note below 2021 printed date will no longer be accepted or be a legal tender anywhere in the world.This effort is to curb billions of illegal monies in dollar bills warehoused around African continent emanating from drug-related, terrorism, kidnapping and money from corrupt politicians,”

5. Fact checking:

a. No reputable media firm has published such a report either in the US or in Ghana.

b. After verifying the official website of the US department of the treasury, the national finance and treasury office of the federal government, there is no sign of such an announcement on their websites.

6. Verdict: the news that “USA moves to checkmate dollar stockpile in Africa” is a hoax and false

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