There’ll be no GH¢500 note – BoG clarifies Heritage Series issuance

The Bank of Ghana (BoG) insists it will not issue new and higher-denomination banknotes as part of its “Heritage Series” rollout on November 3, 2026.

According to the Central Bank, what it is doing is an upgrade of the existing currencies in circulation and not the introduction of new banknotes.

The Director of the Currency Management Department at BoG, Dominic Owusu, disclosed this on the Joy FM Super Morning Show.

He urged the public to disregard commentary on some social media platforms that the Bank of Ghana is working to introduce new notes and higher denominations, such as the GH¢500 note.

Mr Owusu went ahead to highlight the security features that the Bank of Ghana is going to incorporate in the upgraded cedi notes.

“It will also come with improved durability and modern designs that reflect Ghana’s heritage and aspirations,” he added.

The Director of the Currency Management Department also stated that “They [currencies] are designed to provide stronger protection against counterfeiting, withstand the demands of prolonged circulation, and support more efficient and cost-effective currency management.”

He also stated that the Heritage Series will co-circulate with the existing Ghana Cedi banknotes currently in circulation.

Speaking at the Monetary Policy Committee meeting, the BoG Governor, Dr Johnson Asiama, said it is part of efforts to modernise the country’s currency and strengthen its security and durability.

The Governor of the Bank of Ghana said the upgraded notes are being introduced in response to changes in currency circulation, advances in technology and increasingly sophisticated security standards.

“The upgraded banknotes incorporate enhanced security features, improved durability, and modern designs that reflect Ghana’s heritage and Ghana’s aspirations,” he said.

The new notes have been designed to provide stronger protection against counterfeiting and withstand the demands of prolonged circulation, while also supporting more efficient and cost-effective currency management.

The Heritage Series will also incorporate Ghanaian iconographic elements and honour national heroes, with each denomination designed to tell aspects of Ghana’s history while reflecting the country’s aspirations for the future.

The Bank of Ghana, however, stressed that the introduction of the new notes will not invalidate the existing Ghana cedi banknotes.

The new Heritage Series will circulate alongside the existing banknotes, meaning members of the public can continue using the current notes after the launch.

Also read:

• BoG to roll out new cedi banknotes in November

• Bank of Ghana warns against misuse of cedi notes and coins