Business

BoG to circulate cash using helicopters to deter assaults on bullion vans

Dr Ernest Addison, Governor of the Bank of Ghana, told reporters that the Vice Air Marshal favors the use of helicopters by the central bank to move cash to banks across the world.

He clarified that this followed the latest assaults on bullion vans in the country by criminals.

Speaking at a press conference of the Monetary Policy Committee in Accra on Monday 28 September, Dr Addison referred to a query about the measures that the central bank has put in place to deal with the recent attacks on bullion vans, saying that the BoG has taken notice of the attacks and that steps have been taken to deal with the danger.

Recently, there was a recent assault on a bullion van in the Ashanti region of Kumasi.

“This is about the third or so time that we have had that kind of incident,” Dr. Addison said. They all use these pickup trucks from Nissan that have been turned into bullion vans.

It is a matter that has been taken seriously by the Bank of Ghana. I believe Securities met with the banks last week to decide on the way forward.

We’ve got a pretty decent fleet of bullion vans and we’re asking them to see how we operate with the banks, so we’re going to have a better means of moving money across the world.

I also met with the Air Vice Marshall and he offered to let the bank use some of the aircraft they own to raise the currency across the world. There is now a great deal of work being undertaken to enhance the transmission of currencies across the world.

Dr Addison has reported that the policy rate has been set at 14.5 percent by the Monetary Policy Committee.

He said it was Monday, September 28, after the 96th MPC conference. Dr Addison added that growth is expected to be between 2 and 25 per cent in 2020.

“The trust of customers is jumping strongly, and customers seem to react to the incremental lifting of constraints.”

He further claimed that amid the ravages of the coronavirus, about 95 companies surveyed are showing high optimism.

By Laud Nartey|3news.com|Ghana

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