The Inspector-General of Police, Dr. George Akuffo Dampare has met with the Governor of the Bank of Ghana (BoG), Dr. Ernest Addison to strategize in fighting the recurring robbery attacks on banks and other financial institutions in the country. This meeting was convened at the Police headquarters, and it witnessed the participation of high-level officials from both the Ghana Police Service and the Bank of Ghana.
The newly appointed Inspector General of Police force has started laying down a road map to make sure that crime is clumped down upon within the banking sector. This has been made known after a crunch meeting with the Bank of Ghana's Governor, Dr. Ernest Addison and some top officials within the banking sector.
Money is said to be the legal tender for the transaction of business in every country. The currency of Ghana, just as any other currency of any country is printed in the form of notes or coins. The currencies that are considered to be of a higher value are printed in notes, while those of a lesser value are printed in coins.
The Bank of Ghana (BoG) has issued another statement hinting the public on measures it is currently cooking to phase out the one Ghana cedi and two Ghana cedis notes from the economy sooner than later. This decision is completely dependent on some uneconomic indicators that ensue the reprinting of these two currencies.
Some of us were overjoyed when the new money was introduced into this country, particularly those of us who were children at the time. When we first got our hands on any of the notes or coins, we would determine whether to spend them or give them away because they were new to us.
The Bank of Ghana is set to replace 1 cedi and 2 cedis notes with coins as a means to ensure there is cost effective in the printing of the one and two Cedis denominations which the parent bank suffers to print always and circulate in the system. Poor ways of handling the currency had amounted the decision of BoG to phase out the paper forms of currency only for the 1 and 2 Cedis papers respectively.
The Bank of Ghana (BoG) says it's preparing to end the 1 Ghana cedi and 2 Ghana cedis notes in circulation. The Bank of Ghana has announced the 2 denominations are going to be substitute by their respective coin. Addressing a press conference after the meeting of the Monetary Policy Committee on Monday 27 September, 2021 the Governor of the Bank of Ghana, Ernest Addison, he confirmed that: “Both the 1 Ghana cedi note and therefore the 2 Ghana cedis note would gradually be taken out of the system since they are not cost-effective in terms of the printing cost.
After the Bank of Ghana (BoG) confirmed that it is getting ready to phase out the GHC1 and GHC2 notes in circulation, Ghanaians have reacted massively to it. According to Bank of Ghana, these notes would be replaced by their respective coin. Peace FM has reported that 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.
The Bank Of Ghana Governor, Dr. Ernest Addison, at the Monetary Policy Committee (MPC) briefing on Monday 27 September 2021. Following its 102nd regular meeting, last week has announced that it would soon stop producing and circulating the 1 GHC and 2 Ghc notes to tackle the defacement of the currency denominations.
By stretch of any imagination, the decision by the government of Ghana, through the Bank of Ghana to replace the 1 and 2 cedi notes with coins is not a thought through one, and the idea must be binned forthwith. The reason for this already unpopular policy makes its implementation worse.
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.
The announcement made by the Governor of the Bank of Ghana, Dr. Ernest Addison, to replace the GH¢1 and GH¢2 notes with coins due to its high circulation in the system and being returned worn out may be received by church folks with mixed feelings. This, he said was due to the fact that the worn out notes make it difficult for the machines to process.
Following an announcement by the Bank of Ghana (BOG), to phase out the 1 Cedis and 2 Cedi notes from the system, there has been mixed reactions reac reactions from the public. According to the Governor of the Bank of Ghana, Dr. Ernest Addison , the Central Bank plans to phase out the two notes from the system in the coming Months.
Ghana at it again as the Bank of Ghana announced it readiness to take out the 1 Ghana cedi notes and the 2 Ghana cedi notes as well from the system. Social media users has taken to their handles on various social media platforms to share their opinions about it since the news hits online.
The Bank of Ghana (BOG) has revealed that the GHC1 and GHC2 notes will be cleared off the system soon. The BOG also the Ghanaian economy grew by just 0.4% last year - its slowest rate since 1983. But it has gained ground in 2021, expanding 3.1% in the first quarter and 3.9% in the second.
The 1cedi and 2cedis notes will soon be phased out of the economy. This was made known to the citizens of the republic of Ghana by the Governor of the Central Bank , Dr. Ernest Addison on Monday,September 27, 2001. Dr. Addison said the two notes which are mostly not in good shape will eventually be replaced by their respective coins which was made sometime ago.
On Monday (27 September 2021), the Governor of the Bank of Ghana, Dr Ernest Addison said, “Both the GHC1 note and the GHC2 note would eventually be phased out. According to him in a media briefing, the notes are not cost effective.
The Central Bank of Ghana on Monday 27th September has announced the gradual phasing out of the 1 and 2 cedi notes. The idea behind phasing out the 1 and 2 cedi notes made in a statement by the governor of BOG is not convincing enough. It doesn't clearly define neither does it reflects the purpose unless BoG has a different agenda against such denominations.
Arbitration is a way of settling a dispute without having to go to court. In this way, a dispute is submitted, by the agreement of both parties. To one or more arbitrators who make a binding decision on the dispute. You are called the claimant and the party you're taking action against is the respondent.
The GHC1 and GHC2 will be going a gradual process of fading out of the system the gradual reduction of a tax credit that a tax payers are eligible for as their income approaches the upper limit to quality for that credit. The One cedi and two cedis note were produced for a purpose and at last they have served it purpose rightfully and there is no need to keep spending such monies in the system.