BoG justifies printing of new GHc 5 bank note


The Bank of Ghana (BOG) is on a nationwide outreach program to educate Ghanaians about the security features on the new commemorative GHc 5 bank note in circulation.

The program, dubbed, “Information Security Awareness Program” is spearheaded by the Head of Currency Management Department, Edward Musey.

Edward Musey at a media encounter in Tamale, said there was no extra cost in printing the new Ghc5 bank notes.

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He posited that, it was a tactical decision approved by management following the nation’s financial institutions’ incessant request.

According to him, the new GHc 5 note, which is to serve as supplementary bank notes, is the most widely circulated and preferred currency demanded at the counter.

Edward Musey gave the assurance that the new banknote will be accessible to customers at the various financial institutions.

He said both old and new currencies will be in circulation until the mutilated old ones are replaced, and explained that the size of the new currency is in line with international monetary standards.

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The Central Bank’s Director of Communication’s, Bernard Otabil, and other technocrats, responded to questions from the participants.

They however kept the participants in suspense regarding disclosure of the exact amount spent on printing the new currency.

The Bank of Ghana under the watch of the immediate past Governor, Dr. Nashiru Issahaku, unveiled the commemorative GHc5 bank note to celebrate the bank’s 60th anniversary.

It became a legal tender two days ahead of the nation’s 60th Anniversary celebration.

The new five cedis note has a foreign outlook and it contains a host of modern security and informational features.

By: Abdul Karim Naatogmah/citifmonline.com/Ghana



Published on 5 April 2017 | 11:55 am at Source