New currency notes are to be issued in Ghana on the 13th August to replace those in circulation now.
New currency notes are to be issued in Ghana on the 13th August to replace those in circulation now. The changeover from the notes issued after the overthrow of the late President Kwame Nkrumah's government in 1966 is aimed at curtailing forgeries.
The Chief of Operations at the Bank of Ghana, Mr. W.K. Nelson told a press conference recently that during the past five years there had been an increasing number of "good currency forgeries."
The new notes will be multi-coloured and will feature anonymous portraits of Ghanaians, traditional motifs and the Volta Dam. Mr. Nelson explained that well-engraved portraits have been found to be one of the greatest obstacles to counterfeiting.
In addition to the one-cedi note, two-cedi, five-cedi and ten-cedi notes will also be issued.
204 million cedis were in circulation in July and the same amount of new notes expected to be released. The old notes will remain in use for an unspecified time.