Ghanaian real estate mogul Nana Kwame Bediako aka Freedom Jacob Caesar, has urged the Bank of Ghana (BoG) to focus on more pressing concerns than worrying about the development of his ‘Freedom Coin’.
The businessman, made the statement via his official twitter handle Twitter on Thursday, March 10, 2022, in response to the BoG’s press statement in which Ghanaians were warned to desist from investing in unauthorized cryptocurrency schemes.
Read Nana Bediako’s tweet:
“Good morning Ghana, our cedi is depreciating almost 8 cedis to a dollar. I think the Bank of Ghana has more to worry about than a Freedom coin that’s not even launched.”
Good morning Ghana our cedi is depreciating almost 8 cedis to a dollar. I think the Bank of Ghana has more to worry about than a Freedom coin that’s not even launched. 🤩
— Freedom Jacob Caesar (@iamfreedom) March 10, 2022
I appreciate your patience. @freedomcoinfjc coming soon. Your home grown platform for investment and development. #FJC #FreedomCoin #ThePrinceOfAfrica#NewAfrica#NewAfricaFoundation#TheAfricanDream #FreedomMovement pic.twitter.com/d27nqO8cEV
— Freedom Jacob Caesar (@iamfreedom) March 8, 2022
The BoG had a statement on Wednesday, March 9 about the yet-to-be-launched digital currency.
In the press release signed by the Central Bank’s Secretary, Sandra Thompson, explicitly cautioned Ghanaians to avoid dealing with the cryptocurrency, as it has not been approved to operate in Ghana’s financial system.
“It has come to the attention of Bank of Ghana that there is an impending launch of a cryptocurrency named “Freedom Coin”. The public is hereby cautioned that neither this cryptocurrency nor the promoting company has approval from Bank of Ghana to operate in the banking and payment sector,’” sections of the notice read.
In furtherance, BoG repeated in the statement that it has not approved the use of any cryptocurrencies in the country, and individuals trade in them at their peril.
“Cryptocurrencies such as Bitcoin are not regulated under any laws in Ghana, and are therefore not backed by any guarantees or safeguards.”
“The public” is therefore admonished “to exercise caution in respect of cryptocurrency transactions.”
According to Apex Bank, this directive is in agreement with notice NO.BG/GOV/SEC/2018/02, which is issued on 22nd January 2018. The notice can be found on the Bank’s website.
To conclude, the bank directed “all licensed institutions including banks, specialized deposit-taking institutions, dedicated electronic money issuers and payment service providers to refrain from facilitating cryptocurrency transactions via their platforms or agent outlets.”
Freedom Jacob Caesar is also an industrialist, philanthropist, and magnate in Ghana’s real estate. His Kwarleyz Group is the parent company for numerous brands such as, Belfast City & Property management, Petronia City Construction, and Wonda World Estates.
