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Otumfuo is not only “a pillar of peace” but also “a pillar of economic stability, says Governor of the Bank of Ghana

Dr Addison said the BoG recognises the crucial role played by Otumfuo in the peaceful transition of power in Ghana from various governments to the next

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has declared that the Asantehene, Otumfuo Osei Tutu II, is not only a pillar of peace but also a pillar of political and economic stability for Ghana.

Addressing a delegation from the E ON 3 Group and its key partners when they paid a courtesy call on him to present the Otumfuo commemorative gold coin to him at his office on 14 February 2022, Dr Addison said the Bank was very proud to be associated with the gold coin initiative.

“Asantehene, Otumfuo Osei Tutu II, has not only ensured that our country remains peaceful throughout the political transitions we have experienced but he has also made sure that our nation’s economy attracts all the support it deserves and ensures that the country has higher growth,” Dr Addison said.

E ON 3 Group chairman Richard Ofori-Atta (right) presents the Otumfuo Commemorative Gold Coin to Dr Ernest Addison, Governor of the Bank of Ghana, which authorised production of the coin

“The Otumfuo Commemorative Gold Coin is an excellent initiative and I think that His Majesty the Asantehene, Otumfuo Osei Tutu II, deserves the honour,“ said Dr Addison.

The E ON 3 Group and its key partners presented the gold coin to the central bank governor. The executive chairman of the E ON 3 Group, Richard Adjei Mensah Ofori-Atta, led a delegation to make the presentation.

Why a gold coin?

Earlier, at the launch of the Otumfuo Commemorative Gold Coin in Kumasi, Dr Addison explained why the Bank of Ghana gave authorisation to the E ON 3 Group to lead processes for the minting of the gold coins in honour of the Asantehene.

Dr Addison said the BoG recognised Otumfuo’s critical role in the peaceful transition of power from governments of one political tradition to another in the Fourth Republic.

He said the Bank also noted with keen interest the painstaking effort His Majesty made in mediating the renewed peace in Dagbon and resolving its long-running 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,” Addison said.

E ON 3 Group chairman Richard Ofori-Atta (second from left) and representatives of project partners presented the Otumfuo Commemorative Gold Coin to Dr Ernest Addison, Governor of the Bank of Ghana (fourth from left), which authorised production of the coin

No monetary value … but historic

The Governor said the commemorative coin, which has been assayed and is made of 99.99% pure 24-carat fine gold, has no monetary value, meaning it is not a medium of exchange and not normal 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,” Dr Addison declared.

The production of the Otumfuo Commemorative Gold Coin marks the first time in Ghanaian history that a non-circulating commemorative coin, intended to celebrate and honour a person, place, event or institution, has been issued in Ghana.

Reporting by Wilberforce Asare in Accra

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