The Bank of Ghana (BoG) is working with stakeholders to introduce a new Currency Act to strengthen legal protections for the cedi and impose tougher measures against counterfeiting and the abuse of banknotes.
The proposed legislation will modernise the Currency Act 1964 (Act 242), which has governed Ghana’s currency for decades, by introducing stronger provisions against counterfeiting and clearer procedures for handling counterfeit notes.
Speaking at the launch of the upgraded Ghana Cedi Heritage Series in Accra, Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, said the proposed law would also establish procedures for detecting, surrendering, authenticating and destroying counterfeit notes while strengthening protections against the mutilation of banknotes and coins.
“Let me say that counterfeiting will soon become a very, very painful experience,” he warned.
The proposed law will complement the enhanced security features introduced under the Heritage Series, which is designed to make banknotes more difficult to counterfeit and easier to authenticate.
“In this way, the security built into the Heritage Series will be matched by laws that protect the currency and those who use it,” Dr Asiama said.
Currency Management and Public Education
The Bank is also upgrading its currency processing operations, using advanced systems to authenticate banknotes and withdraw worn-out and unfit notes from circulation.
It has also developed an Enterprise Currency Operations Management Software (ECOM) to improve coordination and operational efficiency, while planning new cash centres at its Ho and Tamale regional offices.
The Bank is further introducing a Cedi App to help the public understand the new banknotes and assist persons with visual impairments.
A nationwide public education campaign in major local languages will also teach Ghanaians how to identify genuine notes and handle currency responsibly.
“Indeed, safeguarding the cedi is a shared national responsibility for us all,” Dr Asiama said.
The Heritage Series will enter circulation on December 1, 2026, alongside existing banknotes, which will remain legal tender.
