Bank of Ghana urges public to uphold dignity of local currency

Bernard Otabil, the Director of Communications at the Bank of Ghana, has called upon Ghanaians to respect and safeguard the Ghanaian currency. He emphasized that the Ghana cedi notes and coins are a national asset and the country's sole legal tender, demanding they be treated responsibly and preserved meticulously. "The cedi is not just paper; but a trust," Mr Otabil highlighted.

He made this appeal during a stakeholders' forum in Techiman in the Bono East Region, themed "Strengthening Stakeholder Relations through Dialogue and Engagement." The Bank of Ghana organized this meeting to educate stakeholders about its role, to improve collaboration and communication between the Central Bank and the public, and to foster financial stability, raise public awareness about the Bank's activities, and inform citizens about the significance of maintaining the national currency.

Mr Otabil revealed that the Bank of Ghana would soon roll out new, improved cedi notes, urging traders, business owners, and the general public to handle the currency correctly to ensure its durability. He cautioned against actions that damage or deface the banknotes, stressing that maintaining the currency's condition is a collective responsibility.

Victor Akakpo, Head of the Regional Branch Coordinating Office at the Bank of Ghana, echoed the Bank's commitment to engaging in dialogue with stakeholders to enhance public understanding of the financial sector. He urged Ghanaians to borrow responsibly and advised guarantors to always confirm the loan amount before guaranteeing loans.

Mr Akakpo stressed that responsible borrowing and lending are crucial for maintaining personal financial stability and minimizing default risks.