By Francis Ntow, GNA
Accra, Sept 24, GNA – The Bank of Ghana will, from November 3, introduce an upgraded series of Cedi banknotes known as the ‘Heritage Series’, with enhanced security features, Dr Johnson Pandit Asiama, the Governor, announced on Thursday.
Dr Asiama said this at the 132nd Monetary Policy Committee (MPC) press briefing in Accra, describing the new notes as a major step to modernise the national currency and make it fit for the future.
The Governor said the new Heritage Series, themed: “The Cedi, Our Future Secured; Designed to Last,” and incorporates enhanced security features, improved durability and modern designs that reflected Ghana’s heritage and aspirations.
The upgraded notes would include all existing eight series on Cedi notes – GHS1, GHS2, GHS5, GHS10, GHS20, GHS50, GHS100 and GHS200.
“Let me emphasise that the introduction of the new heritage series does not mean that the existing Ghana cedi banknote will cease to be legal tender at all. The new heritage series will co-circulate with the existing Ghana Cedi banknotes that are currently in circulation,” he clarified.
He noted that as the country modernised its financial system to respond to the changing demands of a dynamic economy, it was important to ensure that its currency – a symbol of economic sovereignty met the growing needs, while supporting economic activities.
“In furtherance of this objective, the Bank of Ghana will introduce an upgraded new series of Cedi banknotes, and this will be known as the heritage series,” Dr Asiama said, noting the importance of modernising the Cedi.
He explained that the current banknote designs have been in circulation for more than two decades, a period during which currency circulation has evolved, technology has advanced and security standards have become more sophisticated.
“Periodic modernisation of banknotes, is therefore, imperative to ensure that they remain secure, durable and responsive to the changing needs of the economy,” the Central Bank Governor.
He assured that the upgraded notes were designed to provide stronger protection against counterfeiting, withstand prolonged circulation and support more efficient currency management.
He said the Heritage Series also provided a unique opportunity to honour national heroes and celebrate Ghana’s culture, identity and history through progressive currency designs, with each denomination inspired by Ghanaian iconographic elements that told the story of the country’s past while looking confidently to the future.
Governor Asiama asked the public not to rush to exchange or withdraw existing notes because of the new series, assuring that all existing Cedi banknotes remained valid, urging all Ghanaians to embrace the new notes with pride, confidence and a sense of ownership.
He also appealed to Ghanaians, including businesses, traders and financial institutions to handle banknotes with care, with a renewed commitment to keeping the currency clean and preserve its integrity describing currency integrity as a shared national responsibility.
He cautioned against crumpling, writing on, stapling, spraying, showering and using banknotes for decorative purposes such as money bouquets as those abuses reduced quality and increased replacement costs for the central bank.
GNA
Edited by Agnes Boye-Doe
Reporter: Francis Ntow
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