Bank of Ghana not issuing new cedi notes

The Bank of Ghana (BoG) has denied allegations that it will print new 30, 100 and 200 Ghana cedi denominations to commemorate its 60th anniversary.

Reacting to an article circulating on social media that quotes Dr Johnson Asiama, the Second Deputy Governor of the BoG as disclosing the impending unveiling of the new denominations, a statement issued by the Bank to said the story was false and should be disregarded.

It said: "The attention of the Bank of Ghana has been drawn to stories circulating on social media to the effect that the Bank is issuing denominations of GH¢30, GH¢100 and GH¢200, and wishes to categorically state that the stories are false and should be disregarded."

The statement, signed by Mr Bernard Otabil, the Communications Director of the BoG, maintained that the Deputy Governor, during the AB &David Crystal Ball Africa 2017, never mentioned any such issue.

It noted that portions of Dr Asiama's speech that addressed the unveiling of a new currency note stated: “ . . .Once again, on the 4th of March 2017, we shall be celebrating the 60th Anniversary of Central Banking in Ghana. As part of the celebrations, a new commemorative banknote in five-cedi (GH¢5) denominations will be unveiled.

“This banknote will be legal tender as well as a collector’s item. The note will have new durable security features which can be easily identified by the public as well as introduce other internationally acceptable security features which are sensitive to touch to aid the blind and visually challenged in identifying the banknotes.”

The statement said the climax of the celebration would take place in August 2017 which will mark exactly 60 years when Bank of Ghana opened its doors to the public. The programme for the celebrations would be announced in due course.

The denominations of the Ghana cedi in circulation remain the following: GH¢50, GH¢20, GH¢10, GH¢5, GH¢2 and GH¢1notes and 50Gp, 20Gp, 10Gp, 5Gp and 1Gp, the statement said.

Meanwhile, Citi FM has also dissociated itself from the article, which was purportedly written by its Business Reporter, Lawrence Segbefia and published on citibusinessnews.com.

"The Management of Citi FM would like to state categorically that neither the reporter, Citi FM nor Citi Business News aired nor published the said story in circulation," the statement said.

It explained, however, that the only story published by citibusinessnews.com by the reporter, Lawrence Segbefia, on January 19, 2017, was headlined; ‘BoG to issue GHS5 notes on March 4’.
"Citi 97.3 FM cannot explain the intent or purpose for which the original story has been altered and circulated by unidentified persons."