The growing rejection of the 10 and 20 pesewa coins by some traders and commercial transport operators in Ghana has become a major concern for consumers and policymakers. Although these coins remain legal tender issued by the Bank of Ghana, many traders refuse to accept them during transactions, claiming that they have little purchasing value and are inconvenient to carry and use. How this assertion or whatsoever, became a reality, only God knows.
This phenomenon of Ghanaians especially traders deciding on their own evolution to reject coins which are part of our currency is sickening and must be dealt with wholistically. How did we get here? It started with the 1pesewa coin, moved to the 5pesewas and now the 10 and 20 pesewas coins. Who knows what awaits the 50pesewas coin in some days to come.
While I do not understand, nor can fathom why this flagrant disobedience, it is important for the Bank of Ghana (BoG) and the government to come clear on this issue because, it is causing a lot of confusion and unnecessary fights among people. When traders reject a legal tender, it can create challenges for consumers, who may struggle to complete purchases or receive correct change. Such actions can also disrupt the smooth circulation of money within an economy and undermine confidence in the monetary system.
Though I stand to be corrected, I believe the Bank of Ghana has repeatedly emphasized that all pesewa coins, including the 10 and 20 pesewas denominations, remain legal tender and should be accepted in all transactions.
To buttress the above, I recommend that greater public awareness through increased public education campaign should be vigorously embarked on using all available media platforms. The Information Services Department (ISD) should move from market to market in their jurisdictions to educate the populace especially traders.
Furthermore, refusal to accept these coins should be made a punishable offence by serving a prison term. The law enforcement agencies especially the police should be empowered to arrest any such recalcitrant and non-compliant individuals.
In conclusion, increased public education and compliance should be enforced to ensure that the use of these coins continues within the economy until such a time the BoG deems it fit to withdraw them from the system.
By James Adeho (Jakenzy)
Concerned Citizen
