Bank of Ghana Statement on GHC500 Coin: See what BOG said about the alleged GHC500 coin.
Bank of Ghana Statement: According to the bank of Ghana, there are currently no plans to produce coins with bigger values for general circulation, despite social media rumours to the contrary.
Although images of the alleged coins have been posted on social media, Dominic Owusu, the Bank of Ghana’s Director for Currency Management, has denied the claims as untrue.
Bank of Ghana Statement on GHC500 Coin: He clarified that the introduction of new money or the removal of current notes and coins are always carefully thought out and supported by considerable public and media education.
“The Bank of Ghana will issue the necessary press statement to alert the public when there is a monetary issue or modification. Social media said that the central bank will release a 500-coin note or coin, but this has not happened. Hence, it is untrue, “In an interview with Joy News, Mr. Owusu stated.
Bank of Ghana Statement: See what BOG said about the alleged GHC500 coin.
Bank of Ghana Statement on GHC500 Coin: Mr. Owusu pleaded with the public to disregard reports on social media that claim the Bank is launching new currencies without making an official announcement.
He highlighted that the coin is still acceptable for transactions and must be accepted by consumers in reaction to allegations that it is no longer legal tender and out of circulation.
“We are here to make people aware that these currencies are still valid for usage in transactions, so please assist us in doing so. The one pesewa coin has not been demonetized by the central bank “said he.
“We want individuals to have access to information so they may learn how to manage cedis without being overwhelmed. You journalists are here for that reason, and I want you to aid the central bank in its efforts. The bank would ensure that everything is done to rescue the cedi in addition to doing its part “He said.
GHC500: He asserted that the Bank of Ghana is still dedicated to educating Ghanaians how to manage the cedi to keep it from depreciating.