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Bank Of Ghana Reveals It Spent Ghc 153 Million In Printing New Cedi Notes

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Ghanaians since last week have expressed their dissatisfaction with the current government and the Bank of Ghana(BoG) after it revealed that it was planning to introduce 100ghc, 200ghc as well as 2ghc coin into the system.

Well, a report by the BoG has it that they spent a whopping amount of Ghc 153 million in printing these new currency notes.

The central bank’s report gave the breakdown as follows; the total cost of printing was around GH¢146.7 million while an amount of GH¢2 million was paid as agency fees with more than GH¢4 million spent on other expenses.

According to a source, the expenditure also includes the fees paid to the agency that supervised the printing process, the actual cost of printing the legal tender, and other currency expenses.

The BoG spent 33% less in printing the country’s legal tender in 2018 as compared to the GH¢224.7 million cost incurred in 2017 to print same.

Statistics by the BoG further revealed that, since 2012, the cost of printing the legal tender has moved from GH¢7.4 million to about GH¢146.7 million, representing a more than 1,880% growth over the period.

Cumulatively, between that period, the Bank of Ghana has spent in excess of GH¢776.2 million in the actual cost of printing the cedi. Meanwhile, agency fees paid during the period under review has gone up from GH¢769,000 to about GH¢2 million.

The governor of the Bank of Ghana, Dr. Ernest Addison, last Friday, November 29 announced the introduction of the GHC 100, GHC 200 notes and Ghc 2 coins.

He told the media at a press briefing that a lot of thinking went into the decision to introduce the higher denomination banknotes.

According to the governor, the introduction was aligned well with the needs of the people. “We need banknotes and coins that are convenient for most people to use, high quality, secure and cost-effective.

Accordingly, in March 2017, the Bank of Ghana begun a process of conducting a thorough review of the structure of the currency including on the note/coin boundary and acceptability and use of the individual currency series,” Dr Addison said.

It is, however, not yet known how much it cost the central bank to print the new GH¢100 and GH¢200 and GH¢2 coins.

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Roger Federer Replaces Lionel Messi As The World’s Highest-Paid Athlete

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Roger Federer is the world’s highest-paid athlete for 2020 as the Covid-19 pandemic knocked football’s Lionel Messi off top spot, according to the annual Forbes list released on Friday.

The Swiss tennis great, owner of a men’s record 20 Grand Slam singles titles, earned $106.3 million in the last 12 months, including $100 million via endorsements, to move up four places and become the first player from his sport to top the list.

Footballers Cristiano Ronaldo ($105 million), Messi ($104 million) and Neymar ($95.5 million) and American basketball player LeBron James ($88.2 million) rounded out the top five.

“The coronavirus pandemic triggered salary cuts for soccer stars Messi and Ronaldo, clearing the way for a tennis player to rank as the world’s highest-paid athlete for the first time,” said Kurt Badenhausen, senior editor at Forbes.

“Roger Federer is the perfect pitchman for companies, resulting in an unparalleled endorsement portfolio of blue-chip brands worth $100 million a year for the tennis great.”

Japan’s Naomi Osaka ($37.4 million), who was ranked 29th on the list, surpassed fellow tennis player Serena Williams ($36 million) as the world’s highest-earning female athlete.

Osaka and Williams were the only women on the list.

Basketball players led all sports with 35 players among the top 100. American football occupied 31 spots, none higher than six-times Super Bowl champion Tom Brady ($45 million) who was ranked 25th.

Football was the next most-represented sport with 14 players, followed by tennis (six), boxing and mixed martial arts (five), golf (four), motor racing (three), and baseball and cricket with one each.

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Real Madrid Offer Man United Four Players To Seal Pogba Deal

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Real Madrid has offered four players to Manchester United in a bid to finally land Paul Pogba, the UK Sun reports.

The players include James Rodriguez and Martin Odegaard.

It is understood that Lucas Vazquez and Brahim Diaz could also be thrown in as a deal sweetener.

Madrid manager, Zinedine Zidane, has remained an admirer of his compatriot, who has missed most of the Premier League season with a series of ankle issues.

However, the LaLiga giants are still keen on Pogba, although United will insist he is not for sale.

With the COVID-19 affecting clubs financially, Madrid will press on with their pursuit and will try to do swap deals in order to secure their targets.

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A Ghanaian Lady Who Was Bathed With Acid In Saudi Arabia Shares Her Story

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A Ghanaian lady who was bathed with acid in Saudi Arabia has come out to share her story and how she is contemplating taking her life.

According to the woman narrating her sad ordeal to Crime Check Foundation, somewhere in December 2018, she went to braid her hair in a salon in Saudi Arabia and that was where the unfortunate incident happened.

She narrated that the acid was not meant for her but rather the hairdresser but she was the one that got the worse injury.

She revealed that the hairdresser identified as Rabi was having a fight with the lady who committed the heinous act also known as Salomey over an apartment.

Read her full story below:

“As Rabi was braiding my hair, she stopped to go and eat. As she was eating, we heard a knock on her door and she asked me to help her open it. As soon as I opened the door all I saw was someone pushed me and poured a substance on me. That was my end”

“I had to come back home because I couldn’t see anything talk less of going to work to cater for myself. Rabi too visited me only twice and have never visited again. I returned to Ghana without a pin. Here I am without even a pesewa to go to the hospital because I still feel pains and sick always”.

Saudi authorities promised to arrest her attacker but Memuna says she could not follow up on the case after she was brought to Ghana.

She has completely given up on life and prefers to die. “I’d rather die than to live this painful life,” she said.

Memuna narrated that when children see her they start running away because they think they have seen a ghost.

“One day my mother wasn’t well so I decided to wash our clothes and go dry them outside. As I was drying the things, two children that were standing by were having a conversation and one told the other that- you see this sister her face is really scary and looks like a monster, that made me less of a human being”.

Her mother, Hajia Safia, who could not hold her tears said it was difficult when she first saw pictures of her daughter after the incident.

“It wasn’t easy for me at all because she is all I’ve got in life. She traveled to go and seek greener pastures to support the family and see what has happened to her” she added.

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