The Bank of Ghana (BoG) has warned against the rejection of coins in everyday transactions, stressing that such behaviour threatens the country’s price stability efforts and undermines confidence in the national currency.
The Central Bank said it has observed a worrying trend, particularly the refusal to accept smaller denominations such as the 10 and 20 pesewa coins when given as change.
The BoG reminded the public that all coins and banknotes it issues are legal tender and must be accepted in all payments without exception.
Speaking at the opening of a currency management workshop organised by the West African Institute for Financial and Economic Management (WAIFEM), Dominic Owusu, Head of Currency Management at the BoG, called on Ghanaians to respect and use all denominations.
“There is absolutely no justification for rejecting any currency legally issued by the Bank of Ghana. I urge everyone to accept all denominations from one pesewa to the two-cedi coin as they are all valid legal tender,” he said.
Mr Owusu explained that coins play a vital role in ensuring price accuracy. Without them, vendors often round up prices, contributing to inflation.
He also noted that coins have a longer life span than notes, helping the country reduce currency printing costs.
“Coins are essential. Accept them. No one should reject any coin issued by the Central Bank,” he reiterated.
