Legendary Highlife artiste Rex Omar has downplay claims by members of the governing New Patriotic Party (NPP) that the government has no hand in the introduction of the new banknotes.
The veteran musician believes without a doubt that some forces are behind the move by the Bank of Ghana.
The Governor of the central bank announced the introduction of the new notes at a press conference in Accra on Friday, 29 November 2019 with the explanation that the move is aimed at addressing the deadweight burden on the economy from past inflation and cedi depreciation. The BoG also introduced GHS2 coin.
Speaking at the launch of the new notes, Dr Ernest Addison urged the public not to misinterpret the introduction of the high-value notes to mean a shift from the central bank’s policy of pursuing a cashless society.
However, Rex Omar believes President Nana Addo Darkwa Akufo-Addo influenced the decision of the Central Bank to introduce the new banknotes.
He stated that no institution or individual in independent in Ghana because they is always an order from above.
Reason he suspects the BoG was forced to rollout the new banknotes even though in 2020 the Economic Community of West Africa States (ECOWAS) of which Ghana is part will be introducing a single currency for its member states.
In a conversation with Andy Dosty on Hitz 103.9FM’s Daybreak Hitz on Monday, he said he smells something fishy since the BoG didn’t give prior notice they would be introducing new banknotes, like they’ve been doing.
He added that he cannot fathom why they rushed to rollout the banknotes which he claims will not benefit the ordinary Ghanaian.