Ghana is currently facing an unusual yet important economic challenge involving its smallest denominations of currency, particularly the 10 and 20 pesewa coins. A recent report has revealed that many people are refusing to accept these coins as change or for transactions, leading to inconvenience in daily commerce. This growing trend of rejecting low-value coins threatens to complicate everyday purchases, especially for small retailers and consumers who often rely on exact change for smooth transactions.
Fredrick Ammisah, Ghana’s Economic Advisor to the Finance Minister, has stepped in to address this issue firmly. He reminded the public that all Ghanaian currency issued by the government, including the 10 and 20 pesewa coins, remain legal tender. Ammisah emphasized that these coins must be accepted for payments just like larger denominations. His statement was clear: no one has the right to refuse valid currency as payment, and doing so could result in consequences for the offender.
He further clarified that the Bank of Ghana has not demonetized these smaller coins, meaning they are still fully valid for transactions throughout the country. The continued circulation of these coins plays a crucial role in everyday economic activities, enabling precise pricing and exchanges. It is vital, Ammisah underlined, that the public respects this legal tender status until any official announcement declares otherwise.
The refusal to accept 10 and 20 pesewa coins could lead to unnecessary complications and delays in commerce, especially for vendors and customers relying on exact change. Ammisah urged everyone to cooperate in accepting these coins to maintain smooth market operations. The message from the government is clear: all Ghanaian currency in circulation must be honored, and refusal to do so is not only inconvenient but also subject to penalties, reinforcing the importance of nationwide compliance.
Source: Ohemaa Adusi-Poku