Cedi Depreciation: Bank of Ghana Causes Arrest of Blogger And IT Professional For Spreading Fake News

• Two people are facing the court for criminal charges following the publication of a story that allegedly caused panic withdrawals
• The blogger and IT professional late last month allegedly caused people to storm their dollar accounts to empty them
• The depreciation of the cedi has been blamed partly on the activities of speculators which put pressure on the local currency

Two people, a blogger and an IT professional are facing the Accra Circuit Court for allegedly causing panic withdrawals from dollar accounts.

Jeffrey Eppirim Nyame, the blogger, has been charged with publication of false news, while the IT professional, faces the charge of abetment.

Police told the court that the blogger published an article on his news portal called reportghana.net with the title “Dollar account holders to get cedi at BOG rate for bank withdrawals effective 31st Oct?” on October 27, 2022.

Read also

Cedi fall has become “an albatross on the neck of Ghanaians” – Ofori-Atta laments

Police said he shared the link to the story on many WhatsApp groups and social media platforms, and caused fear and panic among the general public.

The IT professional, Jeremiah, has been brought in as an accomplice to the alleged criminal offence because he had previously created a similar "fake news" portal for Jeffrey called reportghana.com in 2019.

However, it was closed down by Google for violating their community standard with fake news.

Other people have also been linked to the running of the alleged fake news website but are on the run.

According to the Bank of Ghana, the publication caused fear and alarm to the public and resulted in panic withdrawals of dollars at the banks.

The court has granted a GH¢20,000 bail with two sureties to each accused person.

Read also

“Don’t forget we once gave Ghana a strong economy” – Bawumia begs amid backlash

Presiding judge Rosemary Baah Torsu has fixed the next court date for December 29, 2022.

Cedi Depreciation: Ofori-Atta Laments Fall Of Local Currency Has Become An Albatross On the Neck Of Ghanaians

Meanwhile, YEN.com.gh has reported in a separate story that the finance minister has admitted that the fall of the cedi against the dollar is having a debilitating effect on businesses and the cost of living.

Ken Ofori-Atta told members of the Association of Ghana Industries (AGI) recently that he is well aware of the impact the cedi fall is having on the economy but gave the assurance that things will soon get better.

“As the Minister of Finance, no one needs to tell me the ravages of the cedi depreciation which has become an albatross on the neck of our local industries and the high cost of living for all citizens,” he said.

Read also

Hacking gang targeted Qatar World Cup critics

Source: YEN.com.gh