The Bank of Ghana (BoG) has refuted rumors circulating on social media about the issuance of a ¢500 coin.
The Director for Currency Management at the BoG, Dominic Owusu, emphasized that the Bank has no immediate plans to introduce a higher denomination coin for circulation.
He clarified that the introduction or withdrawal of a currency is an important exercise that is always extensively planned by the Bank, and it will always embark on an extensive public and media education before introducing new notes or coins into circulation.
He urged the public to disregard social media stories that suggest the Bank of Ghana is introducing new currencies without any official statement from the Bank. Additionally, he maintained that the one pesewas coin is still legal tender and must be used for transactions.
The Bank of Ghana is committed to embarking on various sensitization programs to educate Ghanaians on how the currency can be handled to prevent it from wearing out.