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Bank of Ghana to phase out 1 and 2 Ghana cedis notes soon.

The central bank of the republic of Ghana has hinted their plans to phase out the Ghana one and two cdis notes in the system very soon.

This was disclosed by the governor of the central bank Dr Thomas Addison. According to the governor of the central bank, these notes will be replaced by their respective coins.

Addressing a press conference after the MPC meeting Monday (27 September), the Governor of the Bank of Ghana, Dr Ernest Addison said, “Both the GHC1 note and the GHC2 note would eventually be phased out because they are not cost-effective in terms of the printing cost.

“Notes that circulate very widely and they come back very torn and soiled and they are very difficult for our currency processing machines to process them.”

He added that, the two notes were commemorative notes and so their respective coins were introduced to gradually replace the notes when they eventually become phased out of the system.

However , most Ghanaians who have commented on the post on Facebook have lambasted the central bank for their plans to embark on this exercise.

Many are of the view that ,the central bank has taken this decision to get rid of the picture of the first president of the republic of Ghana Osagyefo Dr Kwame Nkrumah especially on the two cedis notes.

This debate on the reason why the central bank has taken this decision will continue among the general public since the explanation given by the governor seem not convincing by the general public.

Content created and supplied by: Optimistic3 (via Opera News )

Bank of Ghana Ernest Addison GHC2 Ghana MPC

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