The Bank of Ghana (BoG) has dismissed reports that it will introduce higher-denomination banknotes, including a GH¢500 note, when it launches its Heritage Series on November 3, 2026.

The Central Bank said the Heritage Series is not a new set of currencies or additional denominations but an upgrade of the existing Ghana cedi banknotes currently in circulation.

Director of the Currency Management Department at the Bank of Ghana, Dominic Owusu, made the clarification on Joy News on September 25, 2026.

He urged the public to disregard social media reports suggesting that the Central Bank is preparing to introduce new and higher-value banknotes.

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Owusu explained that the upgraded notes will retain the existing denominations but will feature improved security features, greater durability and redesigned elements.

According to him, the changes are intended to make the banknotes more resistant to counterfeiting and better able to withstand prolonged use.

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

The Bank of Ghana said the upgraded notes will incorporate stronger security measures to protect against increasingly sophisticated counterfeiting techniques.

The Heritage Series will also feature elements of Ghana’s culture, history and national heroes in the designs of the banknotes.

BoG Governor, Dr Johnson Asiama, said the upgrade is intended to modernise the cedi and improve its security as technology and counterfeiting methods continue to evolve.

Importantly, the new notes will not invalidate the existing ones.

After the November 3 launch, the Heritage Series notes and the current cedi notes will circulate alongside each other, allowing the public to continue using the notes they already have.

The Bank of Ghana therefore stressed that the Heritage Series is an upgrade of existing cedi denominations and does not include the introduction of a GH¢500 note.

DR/MA

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