The Bank of Ghana has refuted rumours that it intends to release a 500 Ghana cedi coin on social media, claiming that it has no imminent intentions to circulate greater denominations.
Although images of the alleged coins have been posted on social media, Dominic Owusu, the Bank of Ghana's Director for Currency Management, has denied the claims as untrue.
He clarified that the introduction of new money or the removal of current notes and coins are always carefully thought out and supported by considerable public and media education.
"The Bank of Ghana will issue the necessary press statement to alert the public when there is a monetary issue or modification. A 500 note or coin will be released by the central bank, as we witnessed on social media. But, the bank has not taken any such action. Because it's not true," Mr. Owusu said in an interview with Joy News.
Mr. Owusu pleaded with the public to disregard reports on social media that claim the Bank is launching new currencies without making an official announcement.
He highlighted that the coin is still acceptable for transactions and must be accepted by consumers in reaction to allegations that it is no longer legal tender and out of circulation.
"That is why we are here, so please aid us in spreading the word that these currencies are still acceptable for use in transactions. The one pesewa currency has not been demonetized by the central bank, he claimed.
"We want individuals to have access to education so they may learn how to manage cedis without being overwhelmed. You are here as a journalist for that reason, and I want you to assist the central bank in achieving its goals. He emphasised that the bank is also contributing and would make sure everything is done to save the cedi.
He asserted that the Bank of Ghana is still dedicated to teaching Ghanaians how to manage the cedi to keep it from depreciating.
blogpay
Total Comments: 0