The Bank of Ghana has said it is not releasing GHC500 coins as being speculated on social media.
The director for currency management at the central bank, Dominic Owusu, said the public should disregard samples of the higher denomination being circulated on social media.
“When there is a currency issuance or change, the Bank of Ghana will come with an appropriate press release to inform the public,” Owusu said.
“We saw on social media that the central bank will issue a GHC500 note or coin but the bank has not done any such thing. So, it’s not true,” Owusu was quoted by Accra-based Joy FM.
Touching on the one pesewa coin that is being rejected by a section of the business community or virtually non-existent, he said the coin is still a legal tender.
“That’s why we are here, so help us to circulate that information that those coins are still legal tender and must be used for transactions. The central bank has not demonetise the one pesewa coin,” Owusu said.
“We want the education out there for people to learn how to handle the cedi not to worn out. That’s why you journalists are here and I want you to help the central bank in that quest. The bank is also doing its part and will make sure all is done to save the cedi,” he said.
He said the Bank of Ghana remains committed to educating Ghanaians on how to handle the cedi to prevent it from becoming worn out.
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