I suggested this on other thread, if Nigeria has a similar situation:

freemi:
Ghana cedis is far better than naira. Google is ur friend.

You need to take some history lessons. Ghana redenominated its currency in 2006 and removed all the extra zeros. Their currency is NOT better than ours.

theTranslator:
they gave them in naira I think.
They just put the news in dollars so that everyone will understand

No... The one I watched they were being handed single $100 bills

This is a good policy that will surely strengthening their local currency.

By the way, that central bank logo need a change, this looks childish

tnerro1:


So that it will be easy for the government officers to pocket the remaining money

Hmmmm... Everything is cash out in this country.. You might be right

sureboykris:


No... The one I watched they were being handed single $100 bills

Okay. That's bad

Buhari government don't have the ball to implement this kind of policy.

Afonja should tell me what they finally achieved with Buhari for the past 7yrs

legendgalas:
Ghana that the coconut head children said is better than Nigeria

Is Nigeria better than Ghana?

Okoroawusa:
Ghana is just wasting it time. The situation has eaten too deep into the economy. Even olosho for Ghana dey charge in dollars and it's not good.

I thought they said that the Ghana Cesis is stronger or equal to the dollars

sholatech:
They are taking cues from Nigeria. But virtually all hotels in Accra Ghana charge In dollars. Are they licensed by the BoG to do this?

Ghana is clamping down on the illegal, Aboki Forex Dealers while Nigeria is giving our Forex to the same group, thanks to that Fulani Stooge (Godwin Emefiele) heading the Central Bank of Nigeria.

What a "Tale of Two Cities"!
And the fools in Nigerians Govt are complaining that Businesses are relocating to Ghana, why wont they.

It will take years before this becomes a norm. Most business places there charge in dollars.

afroniger:


https://www.vanguardngr.com/2022/04/ghana-bans-spending-in-foreign-currencies-makes-cedi-sole-legal-tender/

From the comments here a lot of people here do not even understand what they are reading.

The Ghanaian government simply wants everyone to get their forex through the banks as they are the only ones currently authorized by the Central Bank of Ghana to trade in such currencies.

Most of their banks in Ghana do not pay out in Dollars when you receive in dollars. They give Cedi for dollars instead. You receive dollars in your domiciliary Account and whenever you want to cash it, they convert it and pay you in cedis.

They are not outrightly banning the use of forex. This is their way of trying to stabilize their cedi which has been steadily falling against the dollar.

A lot of Ghanaians prefer saving their money in dollars because their currency is almost useless. This their mindset keeps ruining their cedi

afroniger:


https://www.vanguardngr.com/2022/04/ghana-bans-spending-in-foreign-currencies-makes-cedi-sole-legal-tender/

How does this appreciate their cedi against other currencies except their is boost in their production economies.

FireUpNow:
I thought they said that the Ghana Cesis is stronger or equal to the dollars

Compared to Nigeria the Ghanaian cedi is between 7000 to 8000 Cedis to a dollar. Ignore the 3 zeros they removed from their currency

Totilopussylick:
Really... Nigeria currency is diminishing due to reckless abandoning of the main currency.

Price of commodities is on the high side because #5 naira cannot afford anything in Nigeria right now

The law already exists in Nigeria it's the enforcement that's the problem. And how can it be enforced with the politicians are the culprits

sholatech:
They are taking cues from Nigeria. But virtually all hotels in Accra Ghana charge In dollars. Are they licensed by the BoG to do this?

What cues from nigeria??

wpadmin:
Nice move from Ghana.

Little by little, Ghana is taking steps to move forward.

But one ex-giant of Africa is taking a thousand steps backward and all its citizens do is to throw jabs at Ghana.

The only thing that makes Nigeria a force to reckon with is it's population, take that population away then you will know what's up.

You are the one making mistakes, Ghana does not devalue her currency ,she only redominate it . At once, dollar was also redominate.it is just a way of lowering paper bag instead of carrying big money with no value up and down. A ten thousand cedis which is almost one million naira will fit into my back pocket . Imagine how many poly bag I have to buy for A million naira in Nigeria..

Seankhalifa:
I was telling my friend that 9ja Currency is stoger than that of Ghana.. he said it is a lie... devaluing your Currency dnt make it strong... with out having good economical backing... at list we dnt devalue our currency like the Ghanaian... mention me if am wrong.. we dey learn everyday

Even some Nigerians thinks cedi is stronger than Naira I'll be laughing at them. What Ghana did was to remove zeros ooo that's why our 1000 naira is like there 10 cedis if we remove the two zeros then it will be 10 naira vs 10 cedis.

afroniger:


https://www.vanguardngr.com/2022/04/ghana-bans-spending-in-foreign-currencies-makes-cedi-sole-legal-tender/

Russia has taught them. Soon the whole world will be wise

freemi:
Ghana cedis is far better than naira. Google is ur friend.

55 naira can buy something meaningful, but 1cedis can not buy anything meaningful.

Things are very expensive in Ghana.
What 100 naira can buy in Nigeria, 2 cedis can not buy it.

We are quick to judge the rate, forgetting the purchasing power of the currency.

50 naira can buy you a cup of garri.
But 1 cedi can not buy a cup of garri in Ghana.

I hope their Universities will stop accepting tuition fees from other nationalities in dollars too

brightalo1010:


Even some Nigerians thinks cedi is stronger than Naira I'll be laughing at them. What Ghana did was to remove zeros ooo that's why our 1000 naira is like there 10 cedis if we remove the two zeros then it will be 10 naira vs 10 cedis.

At once cedis did well than naira in the year 2016, 2017 and 2020.


Naira as at now is the fourth must useless currency in africa while cedis is the second just above Zambia.

Chakabrati:
I hope their Universities will stop accepting tuition fees from other nationalities in dollars too

No it does not apply to foreign contract . Only domestic business only .

WarrenC:


55 naira can buy something meaningful, but 1cedis can not buy anything meaningful.

Things are very expensive in Ghana.
What 100 naira can buy in Nigeria, 2 cedis can not buy it.

We are quick to judge the rate, forgetting the purchasing power of the currency.

50 naira can buy you a cup of garri.
But 1 cedi can not buy a cup of garri in Ghana.

when you are looking at purchasing power then Ghana fair better than Nigeria .

How much is the minimum wage in Nigeria or how much does national service personnel in Nigeria received as allowance?

Including school fees in dollars

Hmm

Good development

wpadmin:
Nice move from Ghana.

Little by little, Ghana is taking steps to move forward.

But one ex-giant of Africa is taking a thousand steps backward and all its citizens do is to throw jabs at Ghana.

The only thing that makes Nigeria a force to reckon with is it's population, take that population away then you will know what's up.

What do you drink.



I owe you 1 bottle of it. Our economy is looking big cos of our population. I said it earlier to someone here today. Remove population Nigeria economy is out. Like finished.

brightalo1010:


Even some Nigerians thinks cedi is stronger than Naira I'll be laughing at them. What Ghana did was to remove zeros ooo that's why our 1000 naira is like there 10 cedis if we remove the two zeros then it will be 10 naira vs 10 cedis.

lol... dis guy.. u dey do crypto

sholatech:
They are taking cues from Nigeria. But virtually all hotels in Accra Ghana charge In dollars. Are they licensed by the BoG to do this?

don't mind Dem fools

Senomii:

Igbos should better stop importation, they're one of the major reasons why our naira has crashed

Hear mumu talk.. tell fg to stop importing refined oil snd stop buying ammunitions and trains overseas