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At a brief ceremony in Accra to unveil the new banknote yesterday, the Governor of the BoG, Dr Abdul Nashiru Issahaku, explained that the central bank decided to use the portrait of an eminent personality who contributed immensely towards education and the development of the country.
At a brief ceremony in Accra to unveil the new banknote yesterday, the Governor of the BoG, Dr Abdul Nashiru Issahaku, explained that the central bank decided to use the portrait of an eminent personality who contributed immensely towards education and the development of the country.

BoG unveils new GH¢5 note

A new commemorative five cedi (GH¢5) banknote has been unveiled by the Bank of Ghana (BoG) as part of activities to mark the bank’s 60th anniversary.

The banknote, which will go into circulation on Tuesday, March 7, 2017, will be legal tender, as well as a collector’s item.

The note has new durable security features which can be easily identified by the public, while other internationally acceptable security features which are sensitive to touch to aid the visually challenged in identifying the currency have been introduced, according to the central bank.

Currency portrait

The portrait of the legendary Ghanaian educationist, Dr James Kwegyir Aggrey, is on the right-hand side of the front of the note, replacing the iconic Big Six on the old GH¢5.

Existing denominations of the Ghana cedi in circulation are (Notes): GH¢50, GH¢20, GH¢10,  GH¢5, GH¢2 and GH¢1.

Coins: GH¢1, 50Gp, 20Gp, 10Gp,  5Gp and 1Gp.

Dr  Aggrey was born on October 18, 1875, and died on July 30, 1927. As a philosopher, missionary, intellectual and teacher, he is credited for being one of the advocates of education in the then Gold Coast.

His quotes, such as: “If you educate a man, you educate an individual, but if you educate a woman, you educate a whole nation,” and “The surest way to keep a people down is to educate the men and neglect the women. If you educate a man you simply educate an individual, but if you educate a woman, you educate a family,” have become symbols of his personality.

At a brief ceremony in Accra to unveil the new banknote yesterday, the Governor of the BoG, Dr Abdul Nashiru Issahaku, explained that the central bank decided to use the portrait of an eminent personality who contributed immensely towards education and the development of the country.

“This is the man whose memory we are honouring today with the unveiling of the commemorative GH¢5 banknote,” he said.

Women empowerment

Dr Aggrey is renowned for his immense contributions towards affirmative action, particularly women empowerment, in his days.

Another famous quote that he is credited with is: “You can play a tune of a sort on the white piano keys; but for real harmony you must use both the black and white keys.”

Political Independence

He was recognised and credited with the establishment of Achimota School, where he became the first principal.

The BoG was established on  March 4, 1957, just two days before the declaration of Ghana’s independence.

The country itself is celebrating its 60th independence anniversary, being the first Black African country to break the yoke of British colonialism on March 6, 1957.

 “We are, therefore, unveiling this commemorative GH¢5 as part of the celebrations marking 60 years of existence as a central bank,” the BoG Governor stated.

On the reverse side of the new GH¢5 note are distinguishable pictures of the Floating Production, Storage and Offloading (FPSO) Kwame Nkrumah, an oil vessel named after President Nkrumah.

The Big Six is a group of six politicians, including Dr Nkrumah, regarded as the founder of Ghana, who fought to gain independence for the country in 1957.

The climax of the BoG’s 60th anniversary celebrations will take place in August 2017, marking exactly 60 years when the bank opened its doors to the public.

“The programme for the celebrations will be announced soon,” the BoG said.

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