The Bank of Ghana (BoG) has dismissed reports circulating on social media suggesting that it will introduce a GH¢500 banknote or other higher denominations when the Heritage Series is launched in November.
The central bank says the exercise is instead an upgrade of existing Ghana cedi denominations, with no new or higher-value notes being introduced.
Director of the Currency Management Department at the Bank of Ghana, Dominic Owusu, made this clarification on the Super Morning Show on September 25, urging the public to disregard claims about the introduction of higher denominations.
He explained that the Heritage Series is aimed at modernising the existing currency through improved security features, durability and design.
According to him, the upgraded notes will incorporate stronger protection against counterfeiting and be designed to withstand the demands of prolonged circulation.
“It will also come with improved durability and modern designs that reflect Ghana’s heritage and aspirations,” he said.
Mr Owusu said the upgraded banknotes were being developed to support more efficient and cost-effective currency management.
The Governor of the Bank of Ghana, Dr Johnson Asiama, similarly explained that the initiative forms part of efforts to modernise Ghana’s currency in response to changing patterns of currency circulation, technological advancements and increasingly sophisticated security requirements.
He said the upgraded notes would feature enhanced security measures, improved durability and designs reflecting Ghana’s heritage and national aspirations.
The Heritage Series will also incorporate Ghanaian iconographic elements and honour national heroes, with the designs intended to tell aspects of the country’s history.
Existing notes remain valid
The Bank of Ghana stressed that the launch of the Heritage Series will not invalidate the banknotes currently in circulation.
The upgraded notes will co-circulate with existing Ghana cedi banknotes, meaning members of the public will continue to use their current notes after the November 3, 2026 launch.
The central bank has therefore advised the public not to panic or rush to exchange existing banknotes following the introduction of the Heritage Series.
