|
Pricing, biggest challenge to currency
re-denomination-Director
Tamale, April 3, GNA- Mr. Issah Abdulai Nassigre, Northern
Regional Director of the National Commission for Civic
Education (NCCE), on Tuesday indicated that the pricing of
products would be the biggest initial challenge after the
introduction of the de-nomination of the cedi.
He explained that many people especially the rural folk and
some illiterate traders would be confused as to how to price
their wares, receive and give change involving the smaller
de-nomination to customers.
Mr. Nassigre told the GNA in an interview in Tamale, after
his outfit organised an educational campaigns for traders in
the Tamale Metropolis on the re-denomination of the cedi and
how to price their wares.
He said the NCCE through its educational interactions with
market women noted that, most of them expressed their
concerns and misunderstanding about the de-nomination.
He said when the NCCE interacted with some traders in Yendi
the traders wanted to know whether the ten and 20 cedis
coins, which were still in the system are still legal tender
and was also liable to change in July.
The Director said that the sensitisation exercise revealed
that, the banks were currently not accepting 10 and 20 cedis
coins, yet no explanations have been given about its
rejection.
He said another issue emerging out of the educational
campaign was the conversion of figures in figures to the new
currency, for instance the conversion of 21,854,321 cedis to
the new currency.
Mr. Nassigre said some of the people demanded to see a
sample of the new currency to enable them have a better
understanding of the changes.
He explained that the first phase of the educational
campaign, which his outfit had embarked upon would end in
April and was basically for the education of the people and
that the second phase, would be on the evaluation of the
educational campaign and the feedback.
He, however, appealed to the media to help to intensify the
campaign to ensure that people understood and accepted the
new currency without confusion.
When the GNA contacted the Agricultural Development Bank, an
official who pleaded anonymity, said the bank was waiting
for directives from the Bank of Ghana on how to deal with
old coins, particularly that of the ten and the 20 cedis,
which were still legal tender.
GNA
|
