No room for fraudsters – Police

The Tema Regional Police Command has assured the public of its readiness to deal with people who intend defrauding others during the six months transition period from the old to the new currency.

Assistant Commissioner of Police Ransford Ninson said this at a forum on the re-denomination exercise held for the Tema Police on Wednesday at Tema.

He said the police would have a vital role to play in the transition period and urged the officers and men to study and be conversant with the features on the New Ghana Cedi to be able to check counterfeits.

The Tema Municipal Officer of the National Commission on Civic Education (NCCE), Mr Tetteh Wayo, gave out copies of the specimen of the bank notes and the conversion charts to the personnel.

Mr Wayo said there could be genuine teething problems within the six months period regarding the 50 cedis that has no equivalent in the New Ghana cedi but urged the public to exercise restraint as things would return to normal after December 2007.

He said any money less than 100 cedis would not exist when the new currency becomes legal tender with effect from July 01.

Mr Wayo said traders whose prices of wares are 550,000 cedis might be compelled to either reduce or increase the price thus making either the buyer or seller a looser.

Asked why Ghana was rushing to change her currency when the West African sub-region intends coming out with a common currency, the “ECO,” Mr Wayo said this would not have effect on the new currency.

Source: GNA