Business News of Tuesday, 3 April 2007

Source: GNA

Come out with Specimen of new currency -Chief

Jukwa (C/R), April 3, GNA- Nana Afrifa Yamoah-Ponkoh, chief of Jukwa, on Tuesday, appealed to the Bank of Ghana as a matter of urgency, to come out with the specimen of the new currency as part of the education campaign on the re-denomination exercise. This he said would enable the public to be conversant with the notes before its circulation.
He also called on the government to engage the services of mobile banks to move to the rural areas, which do not have ready access to rural banks, to help the people change the old currency.
Nana Yamoah-Ponkoh made the call at a forum held by the Twifo-Hemang-Lower-Denkyira (THLD) district directorate of the National Commission for Civic Education (NCCE) to educate the public on the re-denomination exercise at Jukwa.
Mr Isaac Sam, Deputy Central Regional Director of the NCCE, on his part, warned that anyone who refuses to accept the current cedi notes when the new Ghana cedis comes into circulation would be arrested. He explained that when the exercise takes off in July, the present currency and the new notes would both be legal tender for six months and therefore urged the public to report anyone, particularly traders, who refuse to accept the old cedi notes.
Mr Sam gave the warning in an answer to a question as to what one should do if anyone rejects the old currencies when the exercise begins.
Mr Sam, therefore urged traders to endeavour to quote prices of their goods in both the old and new currency and to accept whichever note is given them during the first six months of the introduction of the new currency.
He called on assembly and unit committee members and opinion leaders to assist in the education of the people on the exercise to help achieve the desired goals.
Mr Thomas Yallow, District Director of the NCCE, explained that even after December 31 when the present currency would cease to be a legal tender, those still in possession of it could send them to the banks to exchange for the new currency.
He reiterated that the exercise was aimed at among others, ensuring the people's safety, with regard to the handling of large sums of money. Mr Yallow advised them to handle currency notes with care and refrain from turning them into jotters, and that it was an offence to deface the notes.
He educated the people on the benefits of saving with the banks.