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
-
BoG suspends implementation of 0.75% wallet to bank transfer fee
2 minutes -
Livestream: To nationalise or Transform? Joy Business hosts roundtable on Ghana’s extractive future
11 minutes -
African Games 2023: Former Sports Minister and LOC Chairman ordered by Auditor-General to refund GHC 579m
16 minutes -
The Build Project expands its reach with the addition of Joy News
23 minutes -
EPA ban on ‘Takeaway Packs’: Good move, but long overdue and not enough
34 minutes -
2026 World Cup: ‘Don’t write off Ghana’ – Kwesi Nyantakyi on Black Stars chances
34 minutes -
The case for appointing a substantive Defence Minister; President Mahama must see the urgency
43 minutes -
Photos: President Mahama launches e-Visa portal
50 minutes -
GNFS trains Gambibgo health staff on fire safety
58 minutes -
Asante Kotoko target UK-born Ghanaian coach as club hunts for permanent manager
58 minutes -
China executes man for murdering prominent gaming tycoon
1 hour -
Ghana’s energy challenges: ‘Déjà Vu’ all over again?
1 hour -
Academics push for integration of climate science into basic education system
1 hour -
Port cost reforms necessary, but must reflect collective interests
2 hours -
Vice President Jane Naana Opoku-Agyemang joins Guyana Independence celebrations
2 hours