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15.04.2007 General News

Concerns raised over joint circulation of currency

By myjoyonline

Public concern about the joint circulation of existing and the new Ghana cedi for a period of six months appears to be rife with less than three months to the introduction of the new currency.

While some are expressing misgivings about the feasibility of the joint circulation, others believe the situation will provide fertile grounds for the less educated to be exploited.

These concerns emanated from a series of sensitisation programmes organized by the Asante-Akim South District Directorate of the National Commission for Civic Education (NCCE) on the re-denomination of the existing currency.

Dominant among the varied questions thrown to the NCCE officials during the programmes was the joint circulation, which many believed would be difficult to comprehend, especially among market women.

They argued that the general understanding of the new currency by the masses was a major challenge on its own hence circulating it alongside the existing currency could only aggravate the situation.

The cynics have therefore advocated an extension of the date of the commencement of the re-denomination to make way for adequate public education to ensure a smooth take-off.

Mr Lawrence Tweneboah-Kodua, Senior Field Officer at the District Directorate of the NCCE, who addressed one of such programmes at Juaso, said prices of commodities would be quoted in both currencies within the six-month period hence it would be easy for people to convert their monies.

He cautioned the public not to engage middlemen when exchanging their currencies, adding that such transactions must be done only at the banks.

Mr Tweneboah-Kodua urged the people to embrace the re-denomination exercise since it was to the benefit of the entire nation and entreated the public to handle the new currency with care.

GNA

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