CPP Urges Bank of Ghana to Retain Pesewa Coins in Circulation
CPP calls for stricter enforcement of pesewa coin usage, warning that their rejection is fueling price distortions and weakening confidence in the cedi.
- CPP opposes any phase-out of pesewa coins.
- Calls for enforcement of legal tender laws.
- Warns coin rejection fuels price increases.
The Convention People’s Party (CPP) has called on the Bank of Ghana (BoG) to maintain the printing and circulation of pesewa coins, arguing that discontinuing the lower denominations would undermine the integrity of Ghana’s currency system.
According to the party, the increasing refusal by traders, transport operators, and some members of the public to accept Five pesewa, Ten pesewa, and Twenty pesewa coins is contributing to unfair price increases and weakening confidence in the national currency.
In a statement signed by the Acting National First Vice-Chairperson of the CPP, Joyce Larbie, the party stressed that the solution lies not in phasing out pesewa coins but in enforcing their acceptance and ensuring their continued circulation through the banking system.
“The solution is not to abandon small denominations, but to enforce their use and ensure banks accept and recirculate them without penalty,” the statement noted.
The CPP warned that withdrawing pesewa coins without adequate public education and viable alternatives could worsen existing challenges and further distort pricing across the economy.
The party also appealed to the Ministry of Finance and the Attorney General’s Department to reaffirm the legal tender status of all cedi and pesewa notes and coins under the Bank of Ghana Act. It further called for sanctions against individuals and businesses that consistently reject pesewa coins during commercial transactions.
According to the CPP, the failure to enforce the use of all currency denominations is eroding public confidence in the cedi and encouraging arbitrary price adjustments at the retail level.
The party also urged market associations, traders, and transport unions, particularly the Ghana Private Road Transport Union (GPRTU), to encourage their members to accept all denominations and provide customers with exact change.
It noted that the widespread rejection of pesewa coins in markets and on commercial transport routes often results in the rounding up of prices and transport fares, placing an additional burden on consumers.
The CPP further encouraged members of the public to insist on receiving pesewa coins during transactions and to report persistent cases of refusal to the Bank of Ghana through its consumer complaint channels.
“Ghana cannot fight inflation while we discard the foundation of our currency,” the party stated.
The CPP maintained that restoring respect for every denomination of the cedi is essential for promoting economic discipline, preserving the value of the currency, and protecting low-income earners from unnecessary price increases.
