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Bank of Ghana to introduce new GH¢5 notes

The Bank of Ghana (BoG) will be celebrating its 60th anniversary this year and as part of the celebration it will print commemorative GH¢5 notes.

Dr. Abdul-Nashiru Issahaku, Governor of the Bank of Ghana told the media at the first Monetary Policy Committee press conference for 2017, “It is visibly the same notes with enhanced security features. We always print notes and we would have printed it anyway based on our forecast for new notes.”

“It just happened that this is our  60th year as a central bank so we are just labeling the notes and adding  some features so that when you spick one of the new GH¢5 you would know that this is the 60th year of the central bank.”

On how the printing of the note is going to be financed, he explained that the cost of printing has been budgeted for already and so it is not going to incur additional expenses.

He further said printing of the new note is a normal process of currency management.

Dr Issahaku pointed out that aggressive steps are being taken to sanitize the operations of microfinance companies.

“There has been increased regional presence to enable us better supervise and monitor their operations. We are also bringing them under the supervision of the central bank to ensure that we don’t have any quack microfinance company operating in the country,” he noted.

By Pamela Ofori-Boateng

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