Do not phase out pesewa coins - CPP to Bank of Ghana
The Convention People's Party (CPP) has called on the Bank of Ghana (BoG) not to discontinue the printing and circulation of pesewa coins but rather strengthen measures to enforce their acceptance across the country. The party said the growing refusal by traders, transport operators, and sections of the public to accept five pesewa, 10 pesewa, and 20 pesewa coins was undermining the integrity of the national currency and contributing to unfair price increases. The party urged the central bank to ensure that banks continued to accept and recirculate pesewa coins without difficulty.
The CPP appealed to the Ministry of Finance and the Attorney General's Department to publicly reaffirm the legal tender status of all cedi and pesewa notes and coins under the BoG Act. The party further called for sanctions against individuals and businesses that systematically rejected pesewa coins in commercial transactions. The CPP appealed to market associations, traders, and transport unions, particularly the Ghana Private Road Transport Union (GPRTU), to encourage their members to accept all denominations and provide exact change to customers.
The CPP called on members of the public to insist on receiving and using pesewa coins in daily transactions. It encouraged citizens to report persistent refusal of coins to the Bank of Ghana consumer hotline.
Quick Summary
The Convention People's Party (CPP) has made an appeal to the Bank of Ghana (BoG) regarding pesewa coins. The CPP's statement hints at potential economic consequences if the BoG doesn't take action - but what are they?
Summary - read the full story for complete context.
Image: MyJoyOnline
GhanaFront aggregates news from trusted sources. Click to read the original article.
Keywords
Explore related tagsMore from MyJoyOnline
Related Stories
More from Business & Economy
ECOWAS backs $25bn Nigeria-Morocco Gas Pipeline as Africa pushes energy integration
A landmark agreement for a massive gas pipeline project has been reached, but what does this mean for Africa's energy future?
1d ago•
