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Confusion in Ghana over BoG new cedi notes procurement process

Leading opposition party in Ghana, the New Patriotic Party (NPP) has called on the Bank of Ghana (BoG) to provide full details for printing the new GH¢100.00 and GH¢200.00 notes to show transparency and accountability.

Top official of the party and Member of Parliament (MP) for Tamale South Constituency, Mr Haruna Iddrisu, in an argument at plenary said Ghanaians deserved to know from Government the full procurement details and the rationale for printing currency notes of such higher denominations.

According to him, “We demand better and further explanation from the NPP (New Patriotic Party) Government and BoG for the cedi denomination of such magnitude to be printed without a notice to the Ghanaian public.”

The Minority Leader in Parliament, Mr Iddrisu made the call when he commissioned a CHIPS compound equipped with medical equipment and supplies, which he delivered with his (MPs) share of the District Assemblies’ Common Fund to put up the health facility, which cost GH¢300,000.00 at the Duunyin community in the Constituency.

Whereas the BoG is yet to respond, Business Hilights Ghana Bureau chief recalls that in November 2019, the Central Bank introduced two new higher denominations, GH¢100.00 and GH¢200.00 and a two Ghana cedi coin to complement the existing currencies in circulation.

Key argument for the new currency amongst the MP was the necessity for government to have pre-informed the public of its intensions and provide specimen of the new cedi notes with public notices countrywide, as to when citizens should expect them among others, before issuing the denominations.