The Bank of Ghana, BoG has printed 20 million of the upgraded 50 cedi notes for circulation. This represents a total value of 1 billion Ghana cedis.?

The upgraded notes are currently lodged at the regional offices of the central bank to be issued to financial institutions upon request.

Speaking to JOYBUSINESS after withdrawing the first issue at the banking hall of the Central bank, Acting governor Dr. Henry Wampah promised to increase educational campaign to address concerns by some traders.

?We have done a lot of education in the newspapers and the general media, its still ongoing and would continue for a while. We have printed enough ? a lot more than the old notes in circulation and so we don?t have a problem replacing them? he noted.

He also adds that the enhanced security features will be difficult to counterfeit for now.

?These are the latest in technology. There are accepted norms that we follow and so when we notice that the counterfeit ratio at the Central Bank goes beyond a certain limit then we take action? he said.

Meanwhile, the old notes will seize to be a legal tender by September 30. The Bank of Ghana has however instituted a program in place to accept the old notes at the central bank after this deadline.


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