The Bank of Ghana has issued a cautionary statement urging Ghanaians not to reject the one and five pesewas coins, emphasizing that these coins are legal tender meant for transactions.
Dominic Owusu, the Head of Currency Management at the Central Bank, stressed that the coins are an essential part of the currency system and are intended to be used in daily transactions to support the economy.
During a media engagement, Owusu highlighted that the Central Bank continues to issue these coins and monitors their circulation to ensure they remain in use for an extended period, typically around 15 years before withdrawal.
He encouraged the public to embrace the use of these coins as they play a crucial role in the economy, especially for small transactions.
Owusu explained that coins are categorized into different classes such as change, transaction, and store of value, each serving distinct purposes within the economy.
He noted that rejecting or avoiding the use of these coins is detrimental to the economy and goes against patriotic values, as it disrespects the national currency.
There have been reports of some individuals refusing to accept or use the one and five pesewas coins, but the Bank of Ghana considers such practices unpatriotic and emphasizes the importance of recognizing these coins as valid and essential components of the country’s currency system.
Source-myjoyonline
