No GH¢500 note – BoG clarifies Heritage Series rollout

The Bank of Ghana (BoG) has clarified that its upcoming “Heritage Series” banknotes will not include new or higher denominations such as a GH¢500 note.

The Central Bank said the initiative, scheduled for launch on November 3, 2026, is an upgrade of the existing Ghana cedi banknotes and does not involve introducing new denominations.

The Director of the Currency Management Department at the Bank of Ghana, Dominic Owusu, made this known in an interview on September 25, 2026.

He urged the public to disregard reports and commentary on some social media platforms suggesting that the Bank of Ghana is preparing to introduce new and higher denominations, including a GH¢500 note.

Mr Owusu explained that the upgraded banknotes will come with improved security features designed to make them more difficult to counterfeit.

“It will also come with improved durability and modern designs that reflect Ghana’s heritage and aspirations”, he added.

The Director of the Currency Management Department also stated that “They [currencies] are designed to provide stronger protection against counterfeiting, withstand the demands of prolonged circulation, and support more efficient and cost-effective currency management”.

He further explained that the Heritage Series banknotes will circulate alongside the existing Ghana cedi notes currently in use.

Speaking at the Monetary Policy Committee meeting, the Governor of the Bank of Ghana, Dr Johnson Asiama, said the initiative forms part of efforts to modernise Ghana’s currency while improving its security and durability.

According to him, the upgraded notes are being introduced in response to changes in currency circulation, advances in technology and increasingly sophisticated security standards.

“The upgraded banknotes incorporate enhanced security features, improved durability, and modern designs, designs that reflect Ghana’s heritage and Ghana’s aspirations,” he said.

The new banknotes have been designed to provide stronger protection against counterfeiting and withstand prolonged circulation, while also helping the Bank of Ghana manage currency more efficiently and cost-effectively.

The Heritage Series will also feature Ghanaian iconographic elements and honour national heroes, with each denomination designed to highlight aspects of Ghana’s history while reflecting the country’s aspirations for the future.

The Bank of Ghana has stressed that the introduction of the Heritage Series will not invalidate the existing Ghana cedi banknotes.

This means the current notes will remain legal tender and continue to be used alongside the upgraded Heritage Series notes after the November 3 launch.

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