The Bank of Ghana (BoG) has assured the public that existing banknotes remain legal tender and will circulate alongside the upgraded notes until they are gradually withdrawn.
The new series, unveiled at the Bank Square in Accra yesterday, will enter circulation from December 1, 2026.
“Permit me to emphasise that the existing series remain legal tender. They will circulate alongside the heritage series for a while. This approach will allow the public and businesses to adjust smoothly without unnecessary disruption to economic activity,” Governor Dr Johnson P. Asiama said.
He disclosed that the Bank is working with stakeholders on a new Currency Act to replace the Currency Act, 1964 (Act 242), which he described as outdated. The proposed law will strengthen provisions against counterfeiting with penalties proportionate to the seriousness of the offence.
“Counterfeiting will soon become a very, very, very painful experience,” Dr Asiama warned, adding that the legislation will set clear procedures for detecting, surrendering, authenticating and destroying counterfeit notes, and give firmer legal backing to the fight against mutilation and abuse of the currency.
Heritage in everyday hands
President John Dramani Mahama, who unveiled the series assisted by the Governor, said the cedi carries the nation’s history into daily life.
Its name derives from the Akan word for the cowry shell, a reminder that exchange in this land predates modern financial institutions.
He drew on the famous gold weight of two crocodiles sharing one stomach. “Whatever either eats nourishes both of them, so their common survival depends on recognising their shared interests. That lesson remains relevant in Ghana today,” he said.
“The Cedi passes through countless hands… It serves Ghanaians working across every region, every faith and political persuasion. The Cedi knows no political parties.”
