|
Getting your Trinity Audio player ready...
|
Claim: A flyer on social media claiming that the dollar equivalent of the National Service Scheme (NSS) allowance of ₵559 in 2016 and ₵715 in 2024 were $143.33 and $42.29, respectively.
Verdict: False
Verification
The Cedi traded at ₵4.275 to the dollar as of December 31, 2016, when the NSS monthly allowance was ₵559. Therefore, the dollar equivalent of ₵559 was $130.760 after dividing the monthly NSS allowance by ₵4.275, not $143.33. Also, the NSS allowance as of December 5, 2024, is ₵715 after it increased in July 2023. The Bank of Ghana’s exchange rate as of December 5, 2024, is $1 to ₵14.9125. With the dollar trading at ₵14.9125, the dollar equivalent of ₵715 is $47.9463, not $42.29 as claimed.
