Bank of Ghana dismisses Social media reports on the printing of GHC500 Coin

0
237
Bank of Ghana dismisses Social media reports on the printing of GHC500 Coin
0 0
Read Time:3 Minute, 33 Second

Ferdinand | PoliticsGhana | April 2 | Bank of Ghana dismisses Social media reports on the printing of GHC500 Coin

 

The Bank of Ghana has dismissed social media reports that it plans to introduce a GH¢500 coin, stating that it has no immediate plans to issue higher denominations for circulation.

Dominic Owusu, Director for Currency Management at the Bank of Ghana, debunked the reports as false and urged the public to disregard social media stories that suggest the Bank is introducing new currencies without an official statement.

He clarified that the introduction of new currency or withdrawal of existing notes and coins is always thoroughly planned and accompanied by extensive public and media education.

“When there is a currency issuance or change, the Bank of Ghana will come with an appropriate press release to inform the public. We saw on social media that the central bank will issue a ¢500 note or coin but the bank has not done any such thing. So it’s not true,” Mr. Owusu told Joy News in an interview.

In response to reports that the one pesewas coin is no longer legal tender and out of circulation, Mr. Owusu emphasized that the coin is still valid for transactions and must be accepted by customers.

He urged the public to help circulate the information that the one pesewa coin is still legal tender and must be used for transactions.

“We want the education out there for people to learn how to handle the cedi not to worn out. That’s why you journalists are here, and I want you to help the central bank in that quest. The bank is also doing its part and will make sure all is done to save the cedi,” he stressed.

The Bank of Ghana remains committed to educating Ghanaians on how to handle the cedi to prevent it from becoming worn out.

It is important to note that the Bank of Ghana has not issued any official statement regarding the introduction of a GH¢500 coin, and any information contrary to this should be disregarded.

 

Check This Out: Senior High School Selection Guidelines for 2022 BECE Candidates

Check Also:

How to write and Address a Letter of Sponsorship as a School in the GES HERE

How to write and address any form of Letter to the Ghana Education Service HERE

How to write and Address an Application for Car Maintenance Allowance as a Teacher HERE

How to write and Address an Application for Responsibility Allowance as a Teacher HERE

Check This Out: Top 10 Steps to Register and write Exams in KATon Computing Training Workshop

 

Check the SHS Grading System HERE

 

Download the 2022 basic and shs Academic Calendar HERE

Check This Out: JUST IN: Coalition of Concerned Teachers sacks acting President King Ali Awudu

Prospective Students can also check out the Admission Deadlines for Tertiary Institutions in Ghana as well as their Entry Requirements before Applying.

They can also check the institutions’ cut off pointsandHow to Applyto the various Tertiary Institutions in Ghana as well as the institutions’ Fees Schedulesfor any particular Semester or Year.

FB IMG 1639879589159

UEW NEW ACADEMIC PROGRAMMES


SEND US YOUR STORIES FOR PUBLICATION VIA WHATSAPP NUMBER0506440219

Get the  WAEC Marking Schemes HERE

Get theNaCCA/GES Standard-Based Lesson Plans HERE

Get the Ghana Education ServiceNew Standard–Based Scheme of Learning (SOL)HERE

Get the Ghana Education Service New Standard–Based Curriculum HERE

Get the WAECBECE, WASSCE, NTC Licensure Exam, and Teachers’ Promotion Exam Past Questions HERE

Download the Teachers Guide on SBCand CCP Curriculums HERE

Ghana’s Most Authentic Political News Platform

♥Copyright Notice: Content on This Website is Copyright Protected. No Part of this Content should be Reproduced without the Consent of the Author(s) or Recognition of the source of the Content.© 2020 Ellis Multimedia: PoliticsGhana.com: All Rights Reserved.♥

7a47f9ad1497f9c076987d8d66838026?s=400&d=mm&r=g

About Post Author

Ellis Ferdinand

Ellis Ferdinand is the Founder of Education Ghana Media Network ,a parent Company of EducationGhana.net ,an Online Education News Blog and Education Television, an Online Digital Television Channel. Ellis Ferdinand is a Graduate of Accra College of Education and the University of Cape Coast respectively, where he obtained a Diploma In Basic Education and a Bachelor of Education in Accounting. Awards Ellis Ferdinand won Blogger of the Year at the 2018 National Students’ Awards and was also adjudged 14th Best Ghanain Blogger in 2018 among Top 50 Ghanaian Bloggers of 2018. He introduced the Concept of Education Blogging in Ghana in 2014 with his famous blog EducationGhana.net. His Blog won Best Media Promoting Education in 2017, 2018 and 2019 respectively, an Award organized by Neogenics Education Consult. In 2019, He was adjudged the Most Promising West African Blogger of the Year in Nigeria.
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.