Three East African Central Banks including Uganda, Kenya and Rwanda have warned lovers against using their respective national currencies as gift wraps to celebrate the much-anticipated Valentine’s Day slated for 14th February 2026.
In a press statement dated 6th February 2026, Kenneth Egesa, Director Communications and Public Relations at the Bank of Uganda (BoU) said the practice damages the banknotes and increases the cost of printing money and destroying the defaced notes.
“The public is cautioned against any practice that mutilates, defaces, or compromises the integrity of Uganda Shilling currency. This practice destroys the utility of banknotes making them unusable in cash processing and distribution equipment such as cash counting machines and ATMs, which are a critical part of the cash distribution systems. It also results in the premature withdrawal from circulation and replacement of banknotes at an avoidable cost to the public,” Egesa said.
The Central Bank’s message mainly targeted florists, designers, gifting stylists, and their clients, cautioning them to avoid using currency banknotes and coins in making bouquets or any like creations.
“This mainly involves the use of brand-new banknotes that are stuck together using glue, cello-tape, pins, clips, and other adhesives or fasteners as part of floral bouquets for various social events and gifting ceremonies. Whereas the Bank does not object to using cash as a gift, this exchange should conform to the normal use of currency to facilitate payment transactions,” Egesa wrote.
Bank of Uganda defended its decision to issue the warning saying it is part of its mandate to safeguarding the integrity of the national currency in circulation to fulfil its functionality as a medium of exchange, and store of value.
The development comes at the time when the Bank of Uganda Integrated Annual Report for 30th June 2025 revealed that UGX212.620Bn was spent in currency costs, this includes the printing and destruction of defaced money, a cost that is higher that the UGX203.098Bn.
The Central Bank’s annual report also revealed that as at June 2025, the currency in circulation in Uganda increased by (UGX771Bn), from UGX8.21Trn in FY 2023/24 to UGX8.98Trn in FY 2024/25. The report further indicated that the value of banknotes increased by 10 percent (UGX763Bn), while that of coins rose by UGX9Bn over the same period.
Section 367 of the Penal Code Act penalises the defacing of currency notes in Uganda with culprits if found guilty are eligible to serve a six months sentence or pay a fine not exceeding UGX2000 or both.
The warning by Bank of Uganda comes after the Central Bank of Kenya on 2nd February 2026 also issued the same warning to Kenyans urging the public to refrain from practices that compromise the integrity of Kenya shilling banknotes and to adopt alternative non-damaging methods when presenting monetary gifts.
Similarly, on 5th February 2026, the National Bank of Rwanda, cautioned the public against using the Rwandan Franc banknotes for decorative and celebratory purposes.
“The National Bank of Rwanda reminds the public that anyone who willfully defaces, mutilates or otherwise impairs the Rwandan currency note commits an offence punishable by law,” the Bank said.
