The Supreme Court has adjourned indefinitely a case brought against the Bank of Ghana to stabilise the Ghana Cedi.
The highest court of Ghana was forced to adjourn until further notice because the Attorney General is requesting for more time to file a statement of case.
The case is between a private legal practitioner, Dr. John Ephraim Baiden and the Bank of Ghana over the depreciation of the cedi.
Speaking to Starr News’ Wilberforce Asare after Monday’s hearing, Dr Baiden said he feels frustrated because he filed the case well over six months now and should be making some headway now.
The Cedi recently depreciated by about 40% against the dollar and other currencies, a situation which forced traders to increase prices of goods and services, thus increasing the cost of living for Ghanaians.
Dr. Baiden, however, maintained the Central Bank failed in its duties to stabilise the Ghanaian currency. According to him, the BoG was enjoined by the 1992 Constitution and the Bank of Ghana Act to maintain a stable currency for the benefit of Ghanaians and businesses.
He filed the lawsuit in his capacity as a Ghanaian citizen and said he lost wealth through foreign exchange rate losses.
He is therefore pleading with the court to direct the BoG to provide a stable currency.
