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Celebrating a pillar of peace: Otumfuo is also pillar of economic stability - Central Bank Governor

Local News

11 days ago
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The Bank of Ghana ( BoG) recognises Asantehene Otumfuo Osei Tutu II not only as a pillar of peace but also as a pillar of political and economic stability for Ghana.

“These are key ingredients to ensure the country has higher growth, “ the Governor of the BoG, Dr Ernest Addison stated.

Speaking when a delegation from the E ON 3 Group and its key partners presented the Otumfuo commemorative gold coin to him, Dr Addison said the Bank was very proud to be associated with the gold coin initiative.

“I think that His Majesty deserves the honour, “he added.

The delegation, which was led by the Executive Chairman of E ON 3 Group, Richard Adjei Mensah Ofori Atta, added the presentation on February 14, 2022.

Why gold coin

Earlier at the launch of the commemorative gold coin in Kumasi, Dr Addison explained why the Central Bank gave authorization to the E ON 3 Group to lead processes for the minting of the gold coins in honour of Otumfuo.

According to him, the BoG recognised Otumfuo’s involvement in the peaceful transition of power from different political administrations in the 4th Republic.

He said the bank also noted with keen interest the painstaking effort His Majesty put in place in the mediation of peace in the Dagbon chieftaincy conflict.

“Under the circumstances, the bank approved the issuance of a commemorative coin and offered to assist in procuring the coin through appropriate channels,” Dr Addison said.

No monetary value

The governor said the gold coin, which is of 99.99 per cent assay at 24-carat fine gold, has no monetary value, meaning it is not a medium of exchange and not exactly a legal tender.

“Your Royal Majesty, in recognition of the invaluable role and your remarkable achievements, preservation of peace in the safeguarding of life, the development of Ghana and ensuring peaceful coexistence of the citizenry of Ghana, the Bank of Ghana proudly associates itself with the commemorative gold coin,” he stated.


It was the first time in the history of Ghana that non-circulating commemorative coins meant to celebrate and honour people, places, events and institutions were issued.

source: Theannouncergh.com