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NCCE Begins Sensitisation on Redenomination

2007-06-06 22:27:46
This article has been read 839 times.

Ghana Cedi
The West Gonja District Directorate of the National Commission for Civic Education (NCCE) have launched a district public education campaign on the re-denomination of the cedi at Damongo in the West Gonja District of the Northern Region.

In his address, the West Gonja District Director of NCCE, Mr. Mohammed Alhassan explained that the exercise is intended to reduce the problems associated with carrying huge sums of money in business transactions.

Mr. Alhassan also mentioned that the value of the currency is the same despite the fact that some zeros would be eliminated.

The elimination according to him would not reduce the purchasing power of the new cedi. He advised the public not to rush to change their money for fear of losing them, because the Bank of Ghana have made provision for people to change their old currency from July to December.

Mr. Alhassan enjoined the public to avoid middle men who may posed as agents of banks to change their currency and deal directly with the banks.

He revealed that the new currency would come with security features to make it possible for easy identification by the visually impaired people.

The District Coordinator Director of West Gonja District Assembly, Mr. Kofi Kussachin noted that the new currency would come with some challenges such as converting cedis to pesewas, elimination of some digits and so on.

He advised the public to prepare for those challenges by displaying prices of their products in both the old and new currency to facilitate the transition period.

He revealed that the introduction of the coins is to re-launch the culture of using coins as legal tender among Ghanaians.

He explained that the new and old currency would be used concurrently from July to December and urged traders to accept both the old and new currency during that period to avoid confusion.

Mr. Kussachin urged the public to keep the notes and coins well to avoid depreciation of the currency. The forum brought together Heads of Department, Chiefs, Traders, Civil Society Organisatios and the general public.

source: ghanadistricts.com

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