BoG breaks silence on rumoured GH¢500 note ahead of new cedi notes launch

• BoG says the Heritage Series will not include a new GH¢500 note or other higher denominations.

• Dominic Owusu made the clarification on September 25, 2026.

• The upgraded cedi notes will have enhanced security and durability and will circulate alongside existing notes.

Speaking to Joy News on Friday, September 25, 2026, the Director of the Currency Management Department at the BoG, Dominic Owusu, said the initiative is aimed at upgrading the banknotes already in circulation rather than creating additional denominations.

Mr Owusu urged the public not to rely on social media reports suggesting that the central bank is preparing to introduce new and higher-value cedi notes.

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He explained that the Heritage Series will focus on improving the security, durability and design of the existing banknotes.

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

The upgraded currency is expected to contain enhanced security features to make counterfeiting more difficult and improve its ability to withstand extended use.

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Mr Owusu said the changes would also help the central bank manage the currency more efficiently and reduce the costs associated with replacing worn-out notes.

“They are designed to provide stronger protection against counterfeiting, withstand the demands of prolonged circulation, and support more efficient and cost-effective currency management,” he said.

The Heritage Series is scheduled to be launched on November 3, 2026.

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Despite the introduction of the upgraded notes, the existing Ghana cedi banknotes will remain valid. The new series will circulate alongside the current notes, meaning holders of existing banknotes will not need to exchange them solely because of the launch.

The BoG has previously explained that the Heritage Series is intended to give the cedi a more modern appearance while incorporating elements that reflect Ghana's heritage and national identity.

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The new designs are also expected to provide an opportunity to honour Ghanaian national heroes while strengthening the security and lifespan of the currency.