Bank of Ghana urges public to uphold dignity of local currency

Bernard Otabil, Director of Communications at the Bank of Ghana (BoG), has urged Ghanaians to uphold and protect the dignity of the Ghanaian currency. 

He said the Ghana cedi notes and coins remained a national asset and the country’s only legal tender and must therefore be handled responsibly and preserved with utmost care. 

“The cedi is not just paper; but a trust,” Mr Otabil stated. 

He gave the advice at a stakeholders’ engagement forum held in Techiman in the Bono East Region on the theme: “Strengthening Stakeholder Relations through Dialogue and Engagement.” 

The BoG organised the forum to sensitise stakeholders on its mandate and to strengthen collaboration and engagement between the Central Bank and the public. 

The forum also sought to promote financial stability, create greater public awareness of the Bank’s activities, and educate citizens on the importance of preserving the national currency. 

Mr Otabil announced that the BoG would soon introduce new and upgraded cedi notes and urged traders, business owners and the public to handle the currency properly to ensure its longevity. 

He advised against practices that deface or damage banknotes, stressing that preserving the quality of the currency was a shared responsibility. 

Mr Victor Akakpo, Head of the Regional Branch Coordinating Office at the BoG, reaffirmed the Bank’s commitment to engaging stakeholders and improving public understanding of the financial sector. 

He urged the public to borrow responsibly and advised guarantors to always verify the amount being borrowed before guaranteeing loans. 

Mr Akakpo said responsible borrowing and lending practices were essential for maintaining personal financial stability and reducing default risks. 

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.