Audio By Carbonatix
The management of Bank of Ghana has begun destroying the current cedi notes that come into its vaults.
The measure is to create space at the bank's vaults for the new Ghana cedis, which would be in circulation from July 1 2007.
The Ashanti Regional Manager of BoG, Mr Chris Apau Oppong, who announced this said over ¢700 billion worth of the bank's notes had already been destroyed in Ashanti Region alone.
He was speaking at the Ashanti Regional branch of Agricultural Development Bank (ADB) public education campaign on the re-denomination exercise in Kumasi on Friday.
Mr Oppong said all the current bank notes that went to the bank would not be returned into circulation. He urged the banks to take advantage of the re-denomination exercise to encourage non-accounts holders to open accounts with them in order to mob up all cash into the banking system.
Mr Kwame Owusu-Kodua, the General Manager of Banking Services of ADB, said the bank had established currency exchange centres in all its branches and agencies to assist non-accounts holders to exchange their monies.
He said the bank was changing its cheque books to reflect the new currency and advised customers to start requesting for new cheque books to facilitate their transactions.
Source: GNA
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.
Tags:
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.
Latest Stories
-
GOLDBOD CEO explains ‘Clear Typo’ in Foreign Reserves claim
1 hour -
Trump says US military struck ISIS terrorists in Nigeria
1 hour -
Civil society group calls on the Bank of Ghana to suspend planned normalisation of non-interest banking
4 hours -
Jingle bills: Arkansas Powerball player strikes $1.8bn jackpot on Christmas Eve
4 hours -
Brazil ex-President Jair Bolsonaro’s surgery for hernia ‘successful’
4 hours -
Ghana and Afreximbank announce successful resolution of $750 million facility
7 hours -
IGP inaugurates Ghana Police Music AcademyÂ
7 hours -
Proposed 5-year presidential term will be difficult for underperforming presidents to seek more – Prof Prempeh
7 hours -
Constitution review was inclusive, structured and effective – Prof Prempeh
7 hours -
Public urged to remain vigilant to ensure fire incident-free Christmas Â
7 hours -
Why the fight against neglected tropical diseases is far from over
7 hours -
Reported losses from gold operations in 2025 remain speculative – BoG
8 hours -
Fighting AIDS and STIs in Africa: UNFPA equips youth to turn data into action
8 hours -
Amaarae returns to Accra for homecoming concert
8 hours -
5-year term will be harsher on presidents, not kinder, says Constitution Review Chair
8 hours
