NDC MPs to summon BoG boss to Parliament on new cedi notes

NDC MPs to summon BoG boss to Parliament on new cedi note

The National Democratic Congress, (NDC), is lacing its shoes to drag the Governor of the Bank of Ghana to Parliament over the printing of the new 100 and 200 Ghana Cedi notes.

The NDC MPs, who claimed to be unhappy with the reasons given by BoG Boss, Dr. Addison during the introduction of the two higher denomination of the Ghana Cedi notes plus Gh¢2 coin on Friday, November 29th, 2019, demanded for the cost of printing, the upgraded currency and the profit made from it.

The Minority Leader, Haruna Iddrisu who addressed the Parliamentary Press Corps submitted that:, “We shall in the coming days be initiating steps to summon the Governor of the Bank of Ghana to appear before the house and present a detailed report on the exercise, which must include the total cost incurred, cost of each note compared to its face value, the utilization of the seigniorage revenue to be raised and the quantity of each note ordered”.

According to him, these are public resources being expended, hence the Government owes it a duty to be transparent about the exercise.

The Minority’s position is that the Central Bank must be stopped immediately, as they wanted to know what happened to the amount of money the Bank of Ghana made from issuing the upgraded currency in May this year.

The Governor must account properly to Ghanaians for that transaction as well, he reminds the BoG.

Mr. Iddrisu hoped that “the amount of revenue to be raised as seigniorage will not be used to fund the 2020 campaign of the NPP”.

The NDC Minority also intends to invite the Minister of Finance to Parliament to clarify Government’s position on Ghana’s earlier commitment to adopt the new regional ECO currency in January 2020.

“We hereby serve notice that a future NDC government to be inaugurated in 2021 will conduct a forensic audit into this entire exercise as well as others, which would focus on the individual roles played by the members of the Bank of Ghana Board and friends and family of President Nana Addo Dankwa Akufo-Addo”.

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