According to the bank, it is still issuing the currency and it is expected to be used in the country.
The BoG insisted that the lowest coin denomination is still a legal tender.
“The bank has no immediate plan of withdrawing the 1Gp from circulation,” BoG said in a Q&A release on its website following the introduction of a GHS2 coin together with new GHS100 and GHS200 banknotes.”
The central bank said this following the issuance of the new GH¢100 and GH¢200 notes.
Ghanaians reject the 1Gp coin
There are incessant reports of a section of the public refusing to use the 1Gp coin for transaction.
The culprits are usually bus conductors (mates) of commercial vehicles (trotro) resulting in fisticuffs with passengers on some occasions.
Some individuals also reject the 1Gp coin but checks by Class91.3FM reveal that some large shops and supermarkets who price their goods in pesewas accept and also issue 1Gp coins as a change to customers.
Bank of Ghana issue new GH¢100 and GH¢200 notes
The Bank of Ghana has introduced GH¢100 and GH¢200 notes as additions to the country’s currency denomination mix.
The Central Bank has also introduced a GHC2 coin.
This was announced by the Governor of the Central Bank, Dr Ernest Addison at a press conference in Accra on Friday.
Dr Addison said “a lot of thinking went into the decision to introduce the higher denomination banknotes. The structure of the banknote should align well with the needs of the people who use it for their daily transactions. We need banknotes and coins that are convenient for most people to use, high quality, secure and cost-effective.”