The most dangerous time to experiment is when the economy and Cedi is at its most vulnerable.
The NAM-1 ManzGold experience and the Bank of Ghana’s own criminalisation of Cryptocurrency gives food for thought.
The Bank of Ghana claims it will do “Positive Disruption” as it pilots Digital Currency.
Dr. Addison and Dr. Bawumia must be removed together with Ken Ofori-Atta and Charles Adu Boahen if the E-Cedi suffers any hiccups.
The Bank of Ghana says Electronic Cedi is backed by the Real Cedi which is backed by the Reserves which we doubt is intact…
Hackers can have a field day even if e-levy does not steal the bulk from the electronic wallets of unsuspecting Ghanaians.
Data integrity vis a vis the Personal Biometric data being lodged with multiple entities including private companies has its own trust issues.
Anonymity of transactions in the E-Cedi though traceable will be a go-to for money launderers…
Tax Avoidance Companies such as is owned by Ken Ofori-Atta and Kelli Gadzekpo may flood into Ghana from their Offshore tax havens…
Tax Evasion Companies like Labianca owned by the Council of State member and Board member of the Akufo-Addo government agency may also benefit from E-Cedi transactions…
Ghanaians must take very keen Interest in the unfolding E-Cedi Drama to avoid a HEIST.
The IMF may also scrutinise the E-Cedi and the Banks must be cautious if not skeptical.
The NAM-1 ManzGold experience and the Bank of Ghana’s own criminalisation of Cryptocurrency gives food for thought.
God Save Our Homeland Ghana.
#SeeSomething
#SaySomething
#SaveGhanaNow
By Prince-Derek Adjei