President Mahama has pledged the government’s unwavering commitment to safeguarding the independence of the Bank of Ghana (BoG).
Speaking at the Cedi@60 Currency Conference in Accra, he emphasized that the core principle of an effective economic management is an independent, credible and professionally insulated central bank.
He noted that safeguarding the BoG’s autonomy is crucial for anchoring inflation expectations, maintaining exchange rate stability, enhancing investor and market confidence, and ensuring long-term policy credibility.
“This is not a matter of personal preference. It is an economic necessity,” the president asserted.
Meanwhile, President Mahama said that a modern currency regime requires not only strong institutions but also an informed and responsible public.
He urged the BoG to intensify nationwide public education to promote the use of the Cedi, improve currency handling practices and enhance financial literacy.
According to him, the use of the Cedi in all domestic transactions strengthens economic stability and reduces the unnecessary exposure to exchange rate volatility.
Additionally, he emphasised the importance of handling the currency responsibly, with respect and proper storage, to mitigate high printing costs and prevent the short lifespan of the currency notes in circulation.
He said an informed public is better able to prevent fraud, demand accountability and bolster the financial ecosystem.
“So public education must extend to schools, to the markets, to transport unions, to digital platforms and especially to rural communities,” he added.
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