Its illogical for gov’t to introduce new notes – Mahama charges
The Flagbearer of the opposition National Democratic Congress (NDC) John Dramani Mahama says it is illogical for any government to print new notes when it argues that it is building a cashless economy.
With the government also announcing plans for Ghana to join its West African neighbours in adopting the Eco currency, the former President also says it is difficult to understand the government’s reason for introducing new notes especially after indicating that it has plans of joining ECO.
Speaking at the commemoration of the 31st December Revolution in Winneba on Tuesday, the NDC Flagbearer argues that we cannot clear more than GH₵5000 off the counter because the government wants people to use less cash for transactions.
His remarks come on the heel of a statement from the Jubilee House signed by the Director of Communications, Eugene Arhin, announcing that Ghana will soon swap the cedi for the new single ECOWAS common currency, the ECO.
According to the statement, eight West African Member States of West African Economic and Monetary Union (UEMOA) are to discontinue the use of the CFA Franc, in favour of the proposed ECO beginning 2020.
But Mr Mahama told a cheering crowd that: “You go and print GH₵100, GH₵1 200 notes, I cannot understand what reason in hell would make any government thinking logically do something like that. You want to make it easier for people to carry huge sums of cash when you say we are building a cashless society,” he said amidst cheers from the crowd.
“And the worse thing is Ghana has declared support to join ECO next in 2020. So if we are going to join the ECO and adopt the new West African money system, then what is the need to bring GH₵100 and GH₵1200 notes when you are going top to join the ECO, ” he said sarcastically.
He added that before the introduction of new notes there was no public sensitisation, the banks received no notification, no public education.
“We woke up one day to the new of using new notes, ” he reiterated.