Minority demands BoG Governor’s appearance over new cedi notes and Theodosia Okoh portrait controversy

The Minority in Parliament is demanding that the Bank of Ghana Governor appear before Parliament to answer questions over alleged misrepresentations of identities on the newly introduced Heritage Series cedi notes, insisting that the central bank must account for the designs and the process leading to their approval.

The caucus has also questioned the absence of parliamentary consultation ahead of the introduction of the new banknotes, saying lawmakers must be given access to the due diligence report detailing how the designs were assessed and approved.

Chairman of the NPP Policy Committee and Ranking Member of Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, made the demand at a press conference on Friday, November 13.

He said the Minority had received information that the Bank of Ghana’s board intended to hold an emergency meeting that evening to consider the concerns surrounding the currency designs.

“We are hearing, for example, that the bank board wants to meet tonight on an emergency basis to try and respond to those questions”he said.

Mr Oppong Nkrumah maintained that the controversy, particularly the questions surrounding the portrait of Ghana’s national flag designer, Theodosia Salome Okoh, required the central bank to provide clear explanations to Parliament.

He warned that the Governor and relevant officials would have to appear before the House to respond to the issues raised.

“We want to serve notice, and notice is hereby served. They will have to show up before Parliament and answer all of these questions,” he declared.

Minority questions identities on new banknotes

The Committee Ranking Member questioned how the Bank of Ghana intended to address what the Minority considers misrepresentations of identities on some of the new banknotes.

He also raised concerns about the financial implications of correcting the designs, particularly if the affected notes had to be reprinted.

“How do they respond to the misrepresentations of identities on the face of some of the notes that they have presented? What will it cost us to reprint those notes on which identities have been misrepresented?” he asked.

The concerns come amid public debate over the portrait of Mrs Theodosia Salome Okoh on the new GH¢50 Heritage Series banknote.

The Minority wants the central bank to explain the decisions behind the selection and presentation of the personalities featured on the currency, as well as the checks undertaken before the designs were finalised.

Parliament to demand due diligence report

Beyond the questions surrounding the portraits, Mr Oppong Nkrumah said Parliament would seek a copy of the due diligence report on the new banknote designs.

He said lawmakers wanted to establish the individuals responsible for reviewing the designs and those who gave final approval.

“Parliament will also be looking for a copy of the due diligence report on the designs and who signed that report,” he stated.

Mr Oppong Nkrumah stressed that the caucus was aware of developments surrounding the new currency and would take up the matter in Parliament, although its immediate focus at the press conference was the 2027 Budget.

He said the Minority would return to the issue and pursue the explanations it was demanding from the central bank.