“No, we have not arrested the cedi, the man who arrested it is out there” – Adongo mocks Bawumia

Isaac Adongo, a Board Member of the Bank of Ghana, has mocked former Vice President Dr. Mahamudu Bawumia. He referenced Bawumia's famous comment about "arresting the cedi."

Adongo stated that the NDC government has not arrested the cedi. He noted that Bawumia, who claimed to arrest it, is still around.

He explained that they are gradually massaging the cedi to find its true value.

Speaking on JOYNEWS, Adongo said this is part of an intentional policy. The Ministry of Finance and the central bank are working together.

He mentioned that both institutions are collaborating under Finance Minister Dr. Cassiel Ato Forson’s leadership. This collaboration aims to provide relief for Ghanaians.

Adongo emphasized they have not arrested the cedi. He reiterated that Bawumia is still out there.

He described their current approach as gradually massaging the cedi to find its true level.

Adongo added they want to remind people that Akufo-Addo and Bawumia are gone. Now it’s Ato Forson and John Mahama in charge.

He stated they seek stability rather than a drastic change in value for the cedi.

Currently, Bloomberg reports that the Ghanaian cedi has appreciated by 16% since early April. As of May 15, 2025, it trades at GH¢12.45 per dollar.