BoG happy with ‘good response’ for new GHC5

The Bank of Ghana has expressed happiness about the performance of the latest legal tender released onto the market.

Though there have been mixed responses over the new GH¢5 notes, the Bank says the effort it put into campaigning for the acceptance of the notes is yielding positive results.

The notes were released on Tuesday, March 7 to mark the 60th anniversary of the country’s Central Bank.

“We have had very good response from the market,” said Bernard Otabil, the head of communications at the Bank.

“That’s exactly what we expected,” he noted on TV3’s Midday Live on Friday, March 17. He explained that the notes are to be used alongside the old GH¢5 notes.

“The point is that we were not introducing new notes at all,” he conceded. “This is just a commemorative note and it is not meant to replace the existing GH¢5 note that is already in circulation.”

While traders TV3 spoke with said they have seen the notes, many others said they are yet to touch them. The notes have Ghanaian patriot and educationist James Kwegyir Aggrey on the front with the FPSO at the back. It has security features including a watermark of Kwegyir Aggrey and thread.