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22.05.2007 Business & Finance

Check account balances before re-denomination – GCB

Check account balances before re-denomination – GCB

The Manager of Mankessim branch of the Ghana Commercial Bank, Mr. Samuel Okyere has called on customers of commercial banks to check their account balances before the introduction of the new currency on July 1, to avoid uncertainty.

Speaking at a forum on the re-denomination of the cedi at Mankessim. Mr. Okyere cautioned Ghanaians, especially traders and drivers against refusal to accept coins in exchange of goods and services.

”The habit of some people to accept coins because they are not easy to handle must be discouraged," he advised.

The forum was organised by Mankessim Traders Association in conjunction with the Mankessim-Enyan Abaasa Development Foundation, a non-governmental organisation.

Miss Margaret Mary Sackey, Mfantseman District Director of the National Commission for Civic Education (NCCE) assured the general public that long queues at the banks which often discouraged people from transacting business with them would be a thing of the past when the re-denomination exercise takes off.

“This is because time spent on counting more money for customers will be reduced as fewer quantities of money will now be needed," Miss Sackey said.