The Bank of Ghana has addressed concerns over social media claims of a new GH₵500 note, assuring the public that the upcoming Heritage Series will only feature upgraded versions of existing cedi notes. According to Dominic Owusu, Director of the Currency Management Department at the Bank of Ghana, the central bank has noticed online reports suggesting a higher-value note is being introduced.
Owusu appeared on Joy News on September 25, 2026, to set the record straight before the launch date. He explained that the Heritage Series is not a fresh set of currencies or an addition to the existing denominations but an upgraded version of the banknotes currently in use. The notes will retain their current values — GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100, and GH¢200.
The upgrade primarily focuses on security and durability rather than introducing new money into the system. The redesigned notes will feature stronger anti-counterfeiting measures and are expected to be more resilient to everyday wear. They will also incorporate design elements that reflect Ghana's history, culture, and national heroes.
A key detail for the public is that there will be no deadline to exchange old notes for the new ones. Owusu emphasized that people do not need to rush to swap their existing notes, as both old and new versions of the cedi will remain legal tender indefinitely. This means they will circulate side by side without a fixed timetable for one to replace the other.
The clarification follows the Bank of Ghana's earlier announcement about the planned rollout of the Heritage Series, which is set to launch on November 3, 2026. The central bank's goal is to modernize the cedi's look and security features, keeping pace with evolving counterfeiting techniques and improving the durability of notes in circulation.
Once the new notes enter circulation, the Bank of Ghana will run a public education campaign to help Ghanaians identify the Heritage Series notes, understand their new security features, and verify their authenticity during everyday transactions. Owusu also urged the public to handle the currency carefully, describing it as a symbol of national identity.
The assurance from the Bank of Ghana means no immediate disruption to cash transactions, no risk of holding "invalid" money, and no pressure to visit banks to swap notes before a set date. This also addresses concerns that misinformation about a GH¢500 note could have fueled pricing confusion in markets and unfounded expectations about the value of cash people already hold.
Key points
- The Bank of Ghana has dismissed claims of introducing a new GH₵500 note.
- The Heritage Series will feature upgraded versions of existing cedi notes with enhanced security and durability.
- There will be no deadline for exchanging old notes, as both will remain legal tender.
