Ghanaians are advised by the Bank of Ghana not to discard the one and five pesewas coins because they are still legal tender.
According to the Head of Currency Management at the Central Bank, Dominic Owusu, the Central Bank will continue to monitor its currency in circulation to support the economy.
He stated that the bank is still issuing the currency and that it is anticipated to be used for transactions within the nation during a media engagement held in conjunction with Ghana Month celebrations.
“If we mint a coin and issue it for circulation, it takes about 15 years or so before we withdraw it from the system. They fall within the change class and we want to encourage the public to use this coin because it supports the economy”.
“The coins play a key role in the economy because if you want to buy some worth one cedi you can buy with 200 cedis so we have different classes which are the change, transaction, and the store of value class”, he stated.
Many reports indicate that some members of the public refuse to conduct transactions using the one pesewas and five pesewas coins.
