Bank Of Ghana Explains Why Gh¢1 And Gh¢2 Notes To Be Phased Out

The Bank of Ghana (BoG) has explained why the Ghc1 and Ghc2 notes would be phased out of the system soon.

According to the Director of Currency for the BoG, John Gyamfi, the Ghc2 and the Ghc5 with Dr Aggrey’s portrait were not upgraded and reproduced in 2019 during the upgrade of the currency.

He stressed on Wontumi Radio Morning Show that the Ghc5 note with the Big Six portrait was upgraded and will continue to be reproduced.

John Gyamfi affirmed that the Ghc5 with the Big Six portrait would not be phased out.

“The Ghc2 note was used to mark Kwame Nkrumah’s 100 years and it was printed only once,” he said.

John Gyamfi indicated that the Ghc1 note was printed together with its coin, “and we have noticed that when it gets into the hands of the people, it gets tired before it returns to the Bank.”

According to the Director of Currency, “when the money gets tired, the machine finds it difficult to filtrate from the genuine notes.”