Be vigilant during re-denomination exercise- Traders advised

The Kwahu West District Director of the National Commission for Civic Education (NCCE), Felix Obeng Forson has advised traders and storekeepers to be vigilant during the re-denomination exercise.

He said their vigilance would help avoid being duped by unscrupulous people who may purchase large quantities of goods with counterfeit notes.

He also advised the traders and the illiterates in the community not to give their old currencies to people to change for them since both currencies would be legal tender from July 1 till the end of the year.

Mr Obeng Forson was addressing the Chiefs and people of Kwahu Nsabah in an educational programme to explain the re-denomination exercise to them.

He said members of the commission had visited 20 communities and identifiable groups such as churches, market women, ladies associations and the credit union associations to explain the re-denomination exercise to them.

The District NCCE Director said the objectives of the exercise was to reduce the high cost of transacting business, the inconvenience and the risk involved in carrying large amount of money around to transact business.

He said the exercise would also help avoid difficulties in maintaining sound book keeping and statistical records and data processing.

Mr Obeng Forson advised the traders to adopt a simple method of cancelling the four zeros at the end of a figure to get the equivalent of the new currency.

He advised them to handle the new currency notes with care.

Source: GNA