Fri. Sep 18th, 2020

Printing new cedi notes illogical – Mahama jabs gov’t


Former president John Dramani Mahama has said the decision by government to introduce new cedi notes does not make logical sense.

According to him, it is illogical for government to be championing a cashless society agenda and still go ahead to introduce new cedi notes into the system, which he said defeats the cashless drive.

“I cannot understand in heaven why we say we are moving towards a cashless economy, and we say that you cannot clear more than 5,000 cedis off the counter because we want more people to use less cash in transactions and then at the same time you go and print 100 cedi notes and 200 Ghana cedi notes.

“You cannot understand what reason in hell will make any government thinking logically do something like that,” the former president said while addressing the crowd at the commemoration of the 38th anniversary of the 31st December revolution.

He also alluded to that fact that it does not make sense to introduce new cedi notes when Ghana plans to join ECOWAS’ single currency use in West Africa.

“You want to make it easy for people to carry huge sums of cash when we say we are building a cashless society.

“And the worse thing is Ghana has declared support to join ECO in 2020. If we are going to join a West African currency, what’s the use of the new notes?” he questioned.

He further alleged the new notes served as a conduit for individuals to make money out of the printing.

“Is it because someone wants to print the notes so he gets kick backs? Because otherwise it doesn’t make any logical sense.”

Speaking on the theme for the ceremony, “monetization of elections in Ghana, a threat to national development and genuine democracy”, Mr. Mahama accused the Akufo-Addo government of fueling monetization with some of his decisions as president.

“When you spend 62 million Ghana cedis in 9 months on foreign travel,… and you come from wherever you traveled and you go back  to the people on the ground and you say vote for me, what will they tell you, the 62 million you chop, give me some before I vote for you. That is clearly monetization,” Mr. Mahama said.