Audio By Carbonatix
The Bank of Ghana has cautioned Ghanaians against rejecting the one and five pesewas coins.
Head of Currency Management at the Central Bank, Dominic Owusu, says the coins are legal tenders meant for transactions.
According to him, the Central Bank will continue to monitor its currency in circulation to support the economy.
Speaking at a media engagement as part of the Ghana Month Celebration, he said the bank is still issuing the currency and it is expected to be used in the country for transactions.
“If we mint a coin and issue it for circulation, it takes about 15 years or so before we withdraw it from the system. They fall within the change class and we want to encourage the public to use this coin because it supports the economy”.
“The coins play a key role in the economy because if you want to buy some worth one cedi you can buy with 200 cedis so we have different classes which are the change, transaction, and the store of value class”, he stated.
There are several reports of a section of the public refusing to use the one pesewas and the five pesewas coin for transactions.
Meanwhile, the bank said those practices were unpatriotic, as they amounted to disrespect for the national currency.
Latest Stories
-
Mahama honoured at 2026 World Health Summit in Berlin for global health leadership
2 minutes -
Breast cancer is not a death sentence – Besease Kontire Obaapanin, Magmina Foundation lead awareness campaign
4 minutes -
EcoBank invests in digital education of 4 Garisson School to mark 40 years in Africa
35 minutes -
AGI urges investment in skills and raw materials to strengthen local manufacturing
38 minutes -
GPL 2026/27: ‘We have to rectify our mistakes’ – Boadu reacts to Aduana FC defeat
39 minutes -
No disability access, no building permit – KMA declares
39 minutes -
Asantehene to lead environmental restoration effort at Jimi Land Reclamation Site
43 minutes -
Poor Ghanaians are being jailed because they cannot afford justice – Crime Check Foundation
44 minutes -
No conflict in appointing Emelia Agbenyo as Deputy EC Chair – NDC
45 minutes -
87-year-old man jailed 20 years for defiling 9-year-old girl at Ofankor
48 minutes -
Sankofa Gold targets 70kg output after 9-month shutdown
50 minutes -
Tamale, Bolgatanga had just one Legal Aid lawyer between them – Kwesimintsim MP
57 minutes -
PAC orders eviction of former irrigation company MD from official residence
1 hour -
Legal Aid Commission has offices in only 45 of Ghana’s 261 districts, needs 180 more staff
1 hour -
Challenging Heights welcomes Ghana’s Tier 1 ranking, calls for more anti-trafficking funding
1 hour