BoG Governor justifies plan to introduce upgraded banknotes; says they are designed to provide stronger protection against counterfeiting

The upgraded banknotes incorporate enhanced security features, improved durability and modern designs that reflect Ghana’s heritage and aspirations. Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has justified a plan by the central bank to introduce upgraded banknotes. He makes the point that the upgraded banknotes incorporate enhanced security features, improved durability and modern designs that reflect Ghana’s heritage and aspirations. He said 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 made the announcement about the introduction of the upgraded banknotes, dubbed the "Heritage Series", during the 132nd Monetary Policy Committee (MPC) press conference in Accra on Thursday, September 24. "The Heritage Series also provides unique opportunity to honour our national heroes and celebrate Ghana’s heritage, culture and identity through modern and progressive currency designs. Each denomination is inspired by Ghanaian iconographic elements, telling the story of our past while looking confidently towards the future," Dr Asuama said. He further emphasised that the introduction of the Heritage Series does not mean that the existing Ghana Cedi banknotes will cease to be legal tender. The Heritage Series will co-circulate with the existing Ghana Cedi banknotes currently in circulation, he said. "The public should therefore continue to use the existing banknotes alongside the upgraded notes. "There is no need for the public to rush to exchange or withdraw existing notes solely because of the introduction of the Heritage Series. Ladies and Gentlemen, the integrity of our currency is not the responsibility of the Bank of Ghana alone. It is a shared national responsibility. "I therefore appeal to all Ghanaians, businesses, traders and financial institutions to handle our banknotes with the care and respect they deserve. Let us desist from crumpling, writing on, stapling or using banknotes for decorative purposes, money bouquets, showering, spraying or other forms of currency abuse. Proper handling will help preserve the quality of our banknotes, reduce replacement costs and support efficient currency management," he said. *Source: [3News](https://3news.com/news/bog-governor-justifies-plan-to-introduce-upgraded-banknotes-says-they-are-designed-to-provide-stronger-protection-against-counterfeiting)*