Spend on fit for purpose bullion vans, new notes unnecessary – Adam Bonaa to BoG

Security Analyst, Adam Bonaa has urged the Governor of the Bank of Ghana, Dr. Ernest Addison to make the procurement of fit for purpose bullion vans his priority to save police escorts from being killed.

According to him, the State continues to endanger the lives of policemen who are assigned to escort bullion vans as they become targets of attacks by gunmen.

His comment comes after an officer with the ADB branch in Sefwi Wiawso shot and killed by unknown gunmen.

The policeman in the company of a driver and another staff of the ADB bank where en route to receiving money when the two gunmen attacked them in an area near Asempanaye in the Western North Region.

Three persons have since been arrested in connection with the incident.

Speaking on ‘Alert’ on Starr FM, Mr. Adam Bonaa stated that instead of the Bank of Ghana spending huge sums of monies to print higher cedi denominations, the Governor must invest in the purchase of fit for purpose bullion vans which are technologically advanced and will see the end of police officers escorting monies.

“I’m calling on the Governor of the Bank of Ghana instead of producing bigger denominations for us which we don’t need anyway, spend that money in procuring fit for purpose bullion vans to save lives. It is unfortunate, no one should die because you’re escorting money. Serious countries will not use their police officers who are supposed to be providing security for the indigenes to be following monies. These monies should be insured so that when there’s a disaster the insurance company pays for them worst-case scenario. So can we take police officers off this kind of duty.”

He added: “Why should police officers in the 21st century be escorting money, this was done in the 18th and 19th centuries. No serious country does that, you don’t use State resources to escort money. Technology has made it possible to use armoured fit for purpose bullion vans and this bullion van usually have what is called money shredders and so if you attack a bullion van that was in motion carrying money what happens is that this bullion van ignites a chemical component that spills over this money and the chunk of the money gets shredded, It means that this money basically becomes useless. But today as we speak we still have police officers who are losing their lives, police officers who have been ambushed over the years.”