20 and 50 currency notes to be rejected from August 31

Date:

20 and 50 currency notes to be rejected from August 31

There is a public outcry all over social media in relation to the message sent by one of the local banks in Ghana a few days ago.

The bank in question is no other than the Guaranty Trust (GT) Bank which has said that it will no longer accept 20 and 50 paper currency notes.

This message was widely received by the bank’s customers across the country which said that effective August 31, 2022 the bank will no longer accept the 20 and the 50 paper notes.

The text message read:

“Dear customer, effective August 31, 2022, the Bank will no longer accept the 20 and 50 paper notes,” the SMS read.

Many customers were stunned by this message as the information sent out had not gone down well with them and so they made more inquiries to seek clarification from the bank but there was no favourable response from the bank.

According to ghanaweb, it had also made efforts to know the truth of the matter, but received no response from the bank.

The opposition National Democratic Congress (NDC) also took the matter to their social media team ‘NDC EYE’ which led to massive criticism on the ruling party the New Patriotic Party (NPP).

However, many customers want to believe that the message was probably referring to the British Pounds (£) and not the Ghana Cedi (GHc) notes since the bank has not been specific as to whether it was referring to the Ghana Cedi notes.

The British pound notes

Customers are therefore calling for the intervention of the Bank of Ghana (BoG) to intervene on their behalf.

Also read: GHc1&2 currency notes to be gradually phased out – BOG

There is also a need for the immediate intervention of the Central Bank of Ghana as it is illegal for any bank in Ghana to reject a currency that is legal tender from other countries.

Let’s share your thoughts on this development.

Source: Opera News Hub

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