By Cecil MENSAH
The Bank of Ghana (BoG) has directed the banking community to continually distribute the Ghana Pesewa coins as part of the country’s legal tender for doing business.
According to the Central Bank, the coins still remain part of the legal tender and no decision has been taken on withdrawing them.
The BoG’s directives come on the back of information that some traders and institutions are refusing to accept the Pesewa coins as part of the legal tender across the country.
The directives were issued last Friday in Accra at the unveiling of the commemorative GHS5 banknote to mark the 60th anniversary celebration of “central banking in Ghana.”
The new five Cedis note, featuring a pulsating star developed in cognizance of the United States’ $50 note and United Kingdom’s £50 note, is expected to run concurrently with the old five Cedis note when it is released onto the markets this week.
The Central Bank unveiled the new Cedi note with enhanced security features for the visually impaired; and carries the portrait of the late James Emman Kwegir Aggrey, a renowned intellectual, missionary, and teacher, to honour his good works for the country.
Speaking at the unveiling ceremony, Dr Abdul Nashiru Issahaku, Governor of BoG, said March 4, 2017 marks exactly 60 years since the bank was established in Ghana.
This means that the bank was established two clear days before the nation attained independence.
According to him, the bank decided to use the portrait of an eminent personality whose efforts contributed immensely to the education and development of the country to draw attention to his works.
He revealed that Dr Aggrey was born on October 18, 1875 and died on July 30, 1927.
As a philosopher, Missionary, Intellectual and a Teacher, he was credited with the following famous quotes, which later became symbols of his personality: “The surest way to keep people down is to educate the men and neglect the women.
“If you educate a man, you simply educate an individual but if you educate a woman, you educate a nation.’’
He said the late Dr Aggrey was also credited with the establishment of Achimota School, where he became the first Principal of the school.
‘’This is the man whose memory we are honouring with the unveiling of the commemorative GHS 5 banknote.”
The Head of Currency Management at the bank, Edward Mussey, said the bank chose the five Cedis note to make it accessible to everybody in the country.
He said it is the expectation of the bank that school children can also own the new note by way of saving part of their pocket money.
He urged Ghanaians to endeavour to keep the new note clean since the notes are the business card of the country.
