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General News of Thursday, 10 May 2007

Source: SpaceFM

Re-domination to reduce robbery -Minister

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Brong Ahafo Regional Minister Ignatius Baffour Awuah has said the re-denomination of Ghanaian currency would help reduce the increasing rate of pick pocketing and armed robbery cases in the country.

The Regional Minister was speaking at the public sensitisation programme organised by Space fm, in collaboration with bank of Ghana, NCCE, leading the circulation of the new currency and pesewa in July 2007.

Officials of the bank of Ghana and NCCE were the resource persons.

Hon.Baffour-Awuah said the introduction of the new currency will reduce the burden of traders who sometimes have to carry huge sums of money during business transactions.He said the rational behind the re-denomination is to make business transactions faster, easier and safer.

The regional minister acknowledged the effort of space fm, for educating the public on the new currency and urged others to emulate the wonderful exploits of one of the most innovative FM Stations in Ghana.

Mr Kwame Agyanim Boateng, Wenchi District Director of NCCE reminded the public that the existing cedi will remain legal tender until end of December 2007.

He was addressing the public during a sensitisation programme on the new Ghana cedis organised by space fm and BOG and NCCE.He advised the market women not to be confused about such mix-change, but rather learn to cope with the situation till bank of Ghana phases out the old currency completely.

He said the bank of Ghana will re-denominate the current cedis by setting ten thousand cedis to one Ghana cedis which will be equivalent to to one hundred Ghana pessewas.

Mr Lawrence Osei Bonsu an Officer from Bank of Ghana explained the features of the new currency and advised the market women to observe the currency in order to detect any fake currency.

The Queen of the central market Mrs Cynthia Mensah commended the three organisations for organizing the programme and appealed to them to replicate the programme in other areas of the region. She advised traders not to deal with any middlemen when the new currency starts circulating in July.