The Governor of the Bank of Ghana, Dr. Johnson Asiamah, has called on Ghanaians to renew their confidence in the local currency and take an active role in protecting it from counterfeiting and abuse.
Speaking at the Absa-UPSA Law School Quarterly Roundtable in Accra, Dr. Asiamah emphasised the need to preserve the integrity of the Ghana cedi, warning that rising cases of currency counterfeiting threaten the stability of Ghana’s monetary system.
“So in Ghana, if we are to safeguard the cedi’s role in our economy, we must begin by reclaiming its prestige in our everyday lives. Let us price in cedi, and let us transact in cedis. Let us teach our children that the cedi is worthy of their trust, their savings, and their ambition,” he said.
“Because in the end, the strength of a currency is not determined only by central banks or financial markets. It is determined by the people who use it, the people who protect it, and the people who believe in it.”
Dr. Asiamah also expressed deep concerns over reports of criminal activity involving counterfeit currency, particularly in urban areas and urged citizens to report any such illegal activity directly to him or law enforcement agencies.
“Recently, I heard a story somewhere within Accra about individuals involved in counterfeiting currency. These people are producing fake notes illegally,” he revealed.
“If we allow these practices to thrive in society, why are we surprised when the currency loses value? If you find anyone engaging in currency counterfeiting, whether it’s the cedi, the dollar, or whichever currency, please my phone number is all over the place. Send me a WhatsApp”, he mentioned.
Dr. Asiamah expressed further concern about reports that foreign nationals are also participating in counterfeiting operations, including Ghana’s historical currency designs.
“The heartbreaking part is that I’m told a lot of foreigners are involved in that. They are counterfeiting Kwame Nkrumah’s cedis, the cedi he introduced. They are destroying it. And Ghanaians know these people.”
The Absa-UPSA Roundtable brought together legal experts, regulators, financial leaders, and students to explore the link between monetary policy, currency integrity, and national development.
The event underscored the critical role of public trust and citizen engagement in strengthening Ghana’s economic systems.
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