Don’t scrap Pesewa coins — CPP to Bank of Ghana
The Convention People’s Party (CPP) has urged the Bank of Ghana not to halt the printing and circulation of pesewa coins, but instead to intensify efforts to ensure their acceptance nationwide.
According to the party, the increasing refusal by traders, commercial drivers, and some members of the public to accept five, 10 and 20 pesewa coins is weakening confidence in the national currency and contributing to unjustified price hikes.
In a statement signed by the CPP’s Acting National First Vice-Chairperson, Joyce Larbie, the party called on the central bank to ensure that financial institutions continue accepting and recirculating pesewa coins without restrictions.
“The answer is not to phase out small denominations, but to enforce their use and ensure banks continue to accept and redistribute them without penalties,” the statement noted.
The CPP warned that any attempt to gradually withdraw pesewa coins without proper public education and practical alternatives could worsen the current situation.
The party also appealed to the Ministry of Finance and the Attorney General’s Department to reaffirm publicly that all cedi and pesewa notes and coins remain legal tender under the Bank of Ghana Act.
Additionally, the CPP called for punitive measures against businesses and individuals who consistently reject pesewa coins during transactions.
“Where necessary, sanctions should be applied against the systematic refusal of legal tender,” the statement added.
The party argued that failure to enforce the use of all currency denominations is eroding trust in the cedi and distorting prices at the retail level.
The CPP further appealed to market women, traders, and transport unions, especially the Ghana Private Road Transport Union (GPRTU), to encourage their members to accept all forms of legal tender and provide customers with the correct change.
It noted that the rejection of pesewa coins has become common in markets and on public transport routes, leading to arbitrary increases in prices and transport fares.
The party also encouraged the public to insist on receiving and using pesewa coins in daily transactions and to report persistent refusal of coins through the Bank of Ghana’s consumer complaint channels.
“Ghana cannot effectively fight inflation while ignoring the foundation of its own currency,” the statement stressed.
According to the CPP, restoring respect for every denomination of the cedi is vital for maintaining economic discipline and protecting low-income earners from unnecessary increases in the cost of living.
About The Author
