This is something that has been bothering me for a long time but I haven’t brought myself to talk openly about it…. After almost half a decade of silence, I should say something…
Before 2008, the currency of our beloved country was the CEDI. This we had had since our Osagyefo Dr. Kwame Nkrumah replaced the then British colonial currency with it. It so happened that in 2008 a re-denomination of the cedi was done but in order that Ghanaians become accustomed with the “new currency”, it would be in circulation vis-a-vis the “old currency” for 6months, in order to show distinction between the two for the said period of “dual-circulation”
So the distinction was this;
“Old currency”- CEDI
“New currency”- GHANA CEDI.
One would have thought that after the said period of “dual-circulation” the system would revert to the CEDI.
But that was (probably IS) never to be….
The GHANA CEDI has come to stay… And it seems our financial institutions, who one would have thought would be the most knowledgeable in the field, are most ignorant in this case…
For me the most annoying thing is having gone to the banking hall time and time again to make a withdrawal/deposit and being asked by the teller/cashier to refill my withdrawal/deposit form so that I replace CEDI with GHANA CEDI.
As for our political heads I don’t even know what they are thinking, but I can’t blame them much. Most of them are not economists…
Even though mere knowledge in the English Language would have done the trick.
So even if the BANK OF GHANA did not state (knowingly/unknowingly) in the re-denominination process that after the said six months of “dual circulation” the country would revert to the use of the CEDI, does one need a mallam to be told?
Doesn’t even logic suggest that since it is only Ghana that uses the CEDI as a currency it isn’t necessary to call it “GHANA CEDI”?
Or does Ghana have colonies in some part of the world that spend our CEDI as well????
I would love to know…