The Central Bank would as from Monday, 7 October introduce new 1,000, 2,000 and 5,000 cedi notes. The new notes, according to Mr Emmanuel Asiedu-Mante, Deputy Governor of the Bank of Ghana (BOG) was part of "efforts to enhance the security features of the currency notes and in keeping with sophistication in technology."
The Deputy Governor made this known in Accra on Thursday. He gave the main features of the new notes as that the existing crest watermark bears underneath it a bold electrotype feature reading 1,000, 2,000 and 5,000 cedis.
"This is clearly discerned when viewed against light," he added. He said part of the old design had been replaced with a new anti-colour copier feature, saying, this would display a distortion of the design on a banknote, which had been reduced on a colour copier.
The new notes bear the signature of the new Governor, Dr Paul A. Acquah. Mr Asiedu-Mante explained that there was no truth in the perception that the new notes would lead to increased money supply since, "they will circulate side by side with the existing notes some of which are very mutilated and are being withdrawn as and when we have them."
The Deputy-Governor said the bank had put in place a programme to retrieve old and mutilated notes to take off pressure of increased money supply in the system. On the introduction of the 10,000 and 20,000 cedi denominations, Mr Asiedu-Mante said they would be released in November, to coincide with the new cocoa season.
