Kwabre District intensifies education on Cedi re-denomination

Maase (Ash), April 12, GNA- The Kwabre District Directorate of the National Commission for Civic Education (NCCE) had since March 20 embarked on community education on the re-denomination of the cedi, which comes into effect in July this year.Communities covered included Atimatim, Aduamoa, Aboabogya, Kodie, Atrama, Brofoyedru, Ampabame, Agyarko-Buoho, Maase and Kenyase.
Addressing the populace at one of such forum at Maase on Tuesday, Mr Isaac Osei-Agyemang, Field Officer at the Directorate explained the rationale behind the re-denomination and said the value of the old and the new cedi would be the same.
He said both currencies would be in circulation concurrently for a period of six months after which the old currency would cease to be legal tender after December 31, but could be changed at any Bank in the country.
Mr Osei-Agyemang stressed that the re-denomination would not lead to price increases or inflation and that prices of goods would continue to be determined by market forces.
Mr Samuel Kwasi Otchere, another Field Officer of the Directorate warned the public to watch out for fraudsters who would try to use the exercise to enrich themselves or amass wealth.
He said prices of commodities would be displayed on goods in the Departmental stores and shops anytime from the month of May next month.He stressed the need for people to keep the new currencies neat and deposit their monies at the banks for business purposes.Opanin Kwaku Asare, an elder of the town, called on Ghanaians to co-operate with the government and the Bank of Ghana to ensure a smooth change over of the currency.

12 April 07