Ghanaians Berate Bank Of Ghana

The Bank of Ghana (BoG) has announced an upgrade to the GH¢1 coin with some enhanced security features.

 

“The upgraded GH¢1 coin is bi-metallic with an outer gold and inner silver. The coin has a pronounced rough edge and incorporates a latent image, which appears in a rectangular form below the Scale of Justice at the back,” parts of a statement issued by the BoG read.

 

Ordinary, this announcement should be welcomed news to Ghanaians because it will help prevent fraud and help ensure that the country’s currency is secured.

But Ghanaians on social media are not taking the announcement of the new GH¢1 coin, which will be in circulation from Monday, December 12, 2023, well.

 

Some Tweeps have been questioning the time of the move by the BoG and the amount it might have cost the country, given the current economic hardships.

 

“Useless people, how much will this cost us huh? as for Nana Addo the least said about him the better,” one Twitter user wrote.

 

Some also said that the BOG should focus on stabilising the value of the Ghana cedi rather than issuing new currencies.

 

“Under Akufo Addo our currency has depreciated badly n he has introduced new denominations new features on our currency n wiping out some…what development paaa will this bring to the nation, of what benefit is this…Total waste,” another Ghanaian wrote.

 

— Chelsea Prynx ⭐⭐ (@prynx_chelsea)

@thebankofghana Is it possible to bring back the 1 and pesewa and 5 pesewa coin in a more acceptable size. You surely know the reasons for refusal to use the majority public. Can you upgrade that? Don’t you think it would help check prices increment, especially for basic goods?

 

— Kex Gawins (@Village_Shifu)

Is it not more important to set good measures in place to upgrade the state of the economy to alleviate this hardship than this unnecessary upgrade of the cedi coin. I reckon BoG has problems of misplaced priorities and as such you need think tanks to think and steer your affairs. And so on……