BoG Governor urges national effort to defend cedi

The Bank of Ghana Governor Dr Johnson Asiama has called for a major national effort to defend the Cedi and protect Ghana’s monetary independence.

He stated that the currency’s 60th anniversary should be a catalyst for renewed action to safeguard the nation’s hard-won economic sovereignty, not just a commemorative event.

Speaking at the Cedi@60 commemoration in Accra, themed “Sovereignty, Stability, and Resilience”, Dr Asiama said the anniversary was not merely another policy event but a moment for the country to pause and reflect on how far it has come and what must be done to secure its future.

“Let me be clear, this is not just another policy event. It is a moment for Ghana to pause and reflect, not on what we have built so far, but on what we must now protect and advance.

 “This anniversary belongs to all of us because when we celebrate the Cedi, we celebrate our journey towards economic self-reliance and national confidence,” Dr Asiama stated.

The Governor recounted the historic decision in 1965 to replace the Ghanaian Pound with the Cedi, describing it as a powerful declaration of economic independence and national identity.

“Sixty years ago, Ghana made a powerful declaration. We said farewell to the Ghanaian Pound and introduced the Cedi, our very own national currency. In doing so, we were not just changing banknotes but affirming that Ghana’s independence must include the ability to define and defend our own monetary destiny,” he said.

Dr Asiama highlighted the Cedi’s long history of transformation since its creation, citing key redenominations in 1967 and 2007. The currency’s evolution, he noted, has also included the introduction of advanced security features, commemorative notes and distinct indigenous Adinkra symbols.

“Each transformation over the years, from the integration of advanced security features and commemorative notes to the use of indigenous symbols and portraits of our national heroes, reflects Ghana’s story, one of resilience, innovation and pride,” he remarked.

Dr Asiama stressed that the Cedi remains far more than a medium of exchange, describing it as a trusted store of value and a daily emblem of Ghana’s collective confidence and determination to shape its own destiny.

“Whether it is exchanged in bustling markets, used to pay salaries, or saved for future dreams, the Cedi stands as a lasting symbol of our journey and our unyielding commitment to shape our own destiny,” he noted.

The Cedi@60 celebration marks six decades since Ghana introduced its national currency, replacing the Ghanaian Pound in 1965, a milestone symbolising the nation’s enduring pursuit of economic sovereignty and stability.