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BOG educates citizens on new denominations

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The Bank of Ghana has engaged stakeholders in the financial sector and a cross-section of the public in the Volta and Oti Regions as part of its nationwide sensitisation to the new denominations.

The workshop also sought to promote good relationships among its key stakeholders in a bid to achieve the Bank’s policy objectives. Participants were schooled on the security features of the new banknotes and coins to enable them to detect counterfeits.

A member of the Bank Notes Education Committee of the Central Bank, Eric Hammond was confident that features of the new notes which has the latest technology will prevent the printing of fake currencies by criminals. He, however, urged the public to check the features when transacting business

Mr. Hammond also entreated the people to take good care of the notes to extend their life span, saying the government invests huge capital into printing money.

The Volta and Oti Manager of the Bank of Ghana, Victor Akakpo was hopeful that the introduction of the high-value denominations will ensure customer convenience, and reduce the cost of printing and other currency management processes by the Central bank.

He said it will not lead to inflation but will ease higher transaction volumes.

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