We’re not introducing GH¢500 coin; ignore contrary claims – BoG

The Bank of Ghana has asked Ghanaians to disregard reports that it is planning to introduce a GH¢500 coin as part of the country’s legal tender.

Reports are rife on social media alleging that such a coin, with samples already viral, is in the works.

But the apex bank said it has no such intentions.

The Director for Currency Management at the Bank of Ghana, Dominic Owusu, dismissed the reports and described them as false.

“When there is a currency issuance or change, the Bank of Ghana will come with an appropriate press release to inform the public. We saw on social media that the central bank will issue a GH¢500 note or coin, but the bank has not done any such thing. So it’s not true,“ Mr Owusu clarified.

Mr. Owusu also responded to reports that the one pesewas coin is no longer legal tender.

“The central bank has not demonetised the one pesewa coin,” he said in a Joy News interview.

Mr. Owusu further urged Ghanaians to handle the cedi notes with care to prevent them from getting worn out easily.

“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”, Mr. Owusu stressed.