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30.05.2007 General News

Ghanaians urged to support education on re-denomination exercise


Charles K. Sefah, Volta Regional Manager of the Bank of Ghana (BOG), has urged Ghanaians to support the national programme to educate the public on the re-domination exercise.

He said some recalcitrant persons might attempt to create problems during the exercise, even though enough security measures were being deployed to prevent counterfeiting of the new currency and other problems when the exercise begins in July this year.

Mr. Sefah, who was addressing the First General Hohoe District Assembly meeting, warned members of the public to be wary of dubious characters who might want take advantage of the exercise to defraud unsuspecting Ghanaians.

He said the BOG and the security agencies were collaborating efforts to arrest people who might attempt to circulate counterfeit money.

Mr. Sefah said the re-denomination was not peculiar to Ghana but mentioned that it was introduced in Brazil, Argentina and Turkey, Angola, Democratic Republic of Congo and Morocco.

He gave the assurance that the exercise would not induce price hikes and the devaluation of the cedi and urged credit unions and other economic associations to educate their members on the re-domination exercise.

John Peter Amewu, Hohoe District Chief Executive, appealed to the assembly members to support the re-domination exercise.

Source: GNA