New GHS5 note can’t be counterfeited – BoG

It will be “very difficult” for fake copies of the new GHS5 note to be made due to the security features incorporated into its printing, Edward Musey, Head of Currency at the Bank of Ghana, has assured.

The new note, bearing the image of Dr James Kwegyir Aggrey, came into circulation on March 4, 2017, having been printed in commemoration of the Ghana’s 60th independence anniversary.

But a section of Ghanaians, especially some bus conductors and market women, continue to reject the amount amid doubts that it is legal tender. There are also concerns that with most people yet to familiarise themselves with the new note, counterfeiters may exploit the situation by printing imitated copies into circulation.

But allaying the fears of the public in an interview with Kwesi Parker-Wilson on Ghana Yensom, Accra FM’s morning show, on Monday March 13, Mr Musey said that possibility was remote.

“With the security features we have included in the banknote, it is going to be very difficult, it is not possible to make counterfeit copies of what we have,” he noted.

He explained that “public recognition features” that come with the note as well as new details, including the drill ship, can be seen when held to light. He encouraged people to look out for the security features on the note which are also provided on the central bank’s website.

“So we are asking people not to be afraid. No one can swindle anyone with a counterfeit copy of the note,” the Bank of Ghana assured.