Business News of Thursday, 26 January 2023
Source: www.ghanaweb.live
2023-01-26BoG, NCCE to collaborate on public education on the handling of currency notes
Bank of Ghana Governor, Dr. Ernest Addison and NCCE Chairperson, Kathleen Addy
A 5-member delegation, led by the Chairperson of the National Commission for Civic Education (NCCE), Ms. Kathleen Addy, on January 20, 2023, paid a courtesy call on Governor Ernest Addison and Management of Bank of Ghana to seek mutually-beneficial relationships between the two institutions.
In his remarks, the Governor of
Read full articlehref='/GhanaHomePage/people/person.php?ID=3532'>Bank of Ghana, Dr. Ernest Addison stated that, public education on the proper handling of currency notes would be one of the key areas of collaboration.
He lamented that some Ghanaians handle currency notes poorly and urged the NCCE to play a key role in the Bank’s “Clean Notes Campaign” initiative, including helping to educate citizens on the proper handling of the Ghana currency notes.
He indicated that some Ghanaians are averse to the use of coins and explained the importance of using the coins, adding that, it is more durable and less costly to produce than currency notes.
Dr Addison noted that Ghanaians aversion towards the use of coins has an impact on pricing, as vendors avoid the use of coins by rounding off prices and this negatively impacts the Central Bank’s inflation objective.
Chairperson of the NCCE, Ms. Kathleen Addy on her part mentioned that the purpose of the visit was to introduce herself as the newly appointed Chairperson of the NCCE and to also discuss areas of mutual collaboration.
She stated that the NCCE is an independent, non-partisan governance institution established under the 1992 Constitution of the Republic of Ghana with a mandate to educate citizens on their rights and responsibilities, as well as work towards entrenching democracy in Ghana.
Ms. Addy remarked that the NCCE played a key role in the education and sensitisation of the Ghanaian public during the Bank’s Cedi redenomination exercise in 2007.
Ms. Addy expressed gratitude to the Governor for the warm reception at the Bank and welcomed the proposal to intensify public education on the proper handling of the Ghana currency notes.
The Chairperson was accompanied by a Commission Member, Lawyer Victor Brobbey, the Acting Commission Secretary, Mrs. Lucille Hewlett Annan, the Director of Programmes, Dr. Imurana Mohammed and the Director of Finance, Ms. Monica Mamattah.
In the Governor’s team were the First and Second Deputy Governors, Dr. Maxwell Opoku-Afari and Mrs. Elsie Addo Awadzi, the Director of Research, Dr. Philip Abradu-Otoo, the Bank’s Secretary, Ms. Sandra Thompson and other officials of the Bank.
