Promote Responsible Cedi Use, Strengthen Financial Literacy – Mahama Urges Bank of Ghana
President Mahama calls for nationwide public education to safeguard the stability and integrity of Ghana’s currency
- Mahama urges widespread use of the cedi to enhance economic stability
- Citizens encouraged to handle currency responsibly to reduce costs and maintain integrity
- Improved financial literacy essential for fraud prevention and a stronger monetary system
President John Dramani Mahama has urged the Bank of Ghana to lead efforts in educating Ghanaians on the responsible use of the national currency, the cedi, stressing that a strong financial system relies not just on robust institutions, but also on a knowledgeable and conscientious public.
Speaking at the Currency Anniversary Conference on Tuesday, November 18, President Mahama highlighted three key areas where public education could bolster the cedi’s stability.
He called for the widespread use of the cedi in all domestic transactions, noting that such adoption not only strengthens economic stability but also shields citizens from unnecessary exposure to exchange rate fluctuations.
The President also emphasised proper currency handling, warning that careless use of notes drives up printing costs, shortens their lifespan, and undermines the currency’s integrity. “We must promote responsible use of the cedi,” he said, urging citizens to adopt sound money-handling practices.
Finally, President Mahama stressed the importance of financial literacy. He argued that an informed public is better equipped to prevent fraud, hold institutions accountable, and contribute to a more resilient and trustworthy monetary system.
