The Bank of Ghana (BoG) is collaborating with stakeholders to draft a new Currency Act that will deter counterfeiting and impose proportionate penalties, Governor Dr Johnson Asiama announced today.
According to Asiama, the proposed law will complement the upgraded Heritage Series banknotes by providing a modern legal framework. The legislation will set clear procedures for detecting, surrendering, authenticating and destroying counterfeit notes, and give firmer legal backing to the fight against the mutilation and abuse of banknotes and coins.
He expressed confidence that the act would strengthen protection for both the currency and the public, matching the security built into the Heritage Series with laws that safeguard the cedi and its users.
Asiama emphasized that safeguarding the cedi is a shared national responsibility, noting that while the central bank issues and manages the currency, its integrity also depends on how people handle, accept and use it.
To support the new legislation, the BoG will launch a nationwide public education campaign across all regions, using major local languages. The campaign aims to equip Ghanaians with the knowledge to recognise the Heritage Series’ security features, distinguish genuine banknotes from counterfeits, handle currency responsibly and appreciate the national heritage reflected in the series.
