Madia Group Commend Gov’t & BoG Over Cedi Fight


By Alfred K Dogbey

A group calling itself Media Analyst Group (MAG), has commended the Bank of Ghana (BoG) and Government over strategic moves and steps set out to arrest the continuous fall of the cedi.

The group, in a statement issued in Accra, signed by its Secretary and Organizer, Noble Twum-Asamoah and Albert Kojo Yeboah respectively and copied to The Herald said, “MAG would want to draw the attention of the Bank Of Ghana and Government to also close-up on the operations of the black market operators who are mostly foreign nationals”.

They noted that, the foreigners left their various native countries and invaded the Country and therefore are bent on doing “everything to thwart Government efforts in building a good and vibrant economy for the good people of Ghana”.

MAG said it “would like to appeal to the Bank Of Ghana and Government to collaborate with the Security Agencies like the National Security, Ghana Immigration Service (GIS), Ghana Police Service and Economic and Organize Crime Office (EOCO) in order to clamp-down on these black market operators”.

The Media Analyst Group, indicated that the foreigners who engage in the black market business are some instances “assisted by some unscrupulous Ghanaians in their operations, unknowingly to cause the damage and destroy their own nation’s economy”.

It said, “MAG would also be grateful if government would enforce the laws governing the use of every currency, both foreign and local” to the interest of the state.

The group reiterated that “it seems the laws with regards to our monetary system are so relaxed that though our official currency is Cedi, yet prices are always quoted in Dollars in the Ghanaian local market” which they said “is very destructive to our national development”.

They have, therefore, commended the President, John Dramani Mahama and his Vice, Paa Kwesi Amissah Arthur -led government for the swift action taken on the fall of the Cedi.

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