Cedi notes need a security makeover – Mahama
By Ashiadey Dotse President John Dramani Mahama says Ghana’s cedi notes are due for a security makeover to stay ahead of counterfeiters. According to the President, keeping the same currency in circulation for too long gives criminals the opportunity to study its security features and develop better ways of producing fake notes. Speaking during his […]
Ghana's President John Dramani Mahama has called for a security overhaul of the country's cedi notes, citing the need to stay ahead of counterfeiters. In his Resetting Ghana Tour in the Upper East Region, Mahama stated that currencies should be refreshed every ten years to strengthen their security features. He emphasized that using the same currency for an extended period allows criminals to study the security features and devise more sophisticated methods of producing counterfeit notes.
The President acknowledged that the final decision on refreshing the cedi lies with the Bank of Ghana but expressed confidence that the central bank will announce plans to update the currency at the appropriate time. A currency refresh would primarily involve incorporating stronger and more advanced security features to make the banknotes less susceptible to counterfeiting, without altering the currency's value or redenominating it.
Mahama also praised the current strength of the cedi, attributing it to sound economic management. He affirmed that the government's policies have helped the cedi maintain its value against major international currencies. The President assured Ghanaians that the government would continue to pursue policies to support the cedi, while the Bank of Ghana decides on the timing and scope of any currency refresh.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
