"No new GHS 500 banknotes have been printed"

" No new GHS 500 banknotes have been printed \r\nThe Bank of Ghana has strongly refuted recent viral social media claims that new GH\u20b5500 banknotes have been printed and circulated.\r\n\r\nA viral video on TikTok emerged last week alleging that President Nana Akufo-Addo and Vice President Dr Mahamudu Bawumia launched GH\u20b5500 currency notes and coins at an event televised on Metro TV.\r\n\r\nThe video showed the political leaders displaying a purported GH\u20b5500 note featuring first President Kwame Nkrumah on one side and the five-fourth Republican Presidents on the reverse.\r\n\r\nHowever, the central Bank has categorically denied these assertions as false. \u201cSuch fake information is circulated from time to time. Please disregard this information.\r\n\r\n\u201cThe highest denomination in circulation remains the GH\u20b5200 note.\r\n\r\n\u201cSuch fake information is circulated from time to time. Please disregard this information. The Bank would have stated if indeed any such denomination was going to be released,\u201d the Head of Communications at Bank of Ghana, Esi Hammond stated.\r\n\r\nCurrently, all banknotes feature The Big Six \u2013 the pioneers who led Ghana to independence in 1957. They include Kwame Nkrumah, Joseph Boakye Danquah, Emmanuel Obetsebi-Lamptey, William Ofori Atta, Edward Akufo-Addo and Ebenezer Ako Adjei.\r\n\r\nThe fake \u20b5500 note instead depicted President Nkrumah alongside John Mahama, John Atta Mills, John Kufuor and Jerry Rawlings who assumed presidential office after 1992. This makes the alleged GH\u20b5500 notes inauthentic.\r\n\r\nSimilar claims were made of a GH\u20b5500 note back in March 2021. The story periodically resurfaces on social media to mislead citizens.\r\n\r\nMedia outlets like Myjoyonline and Graphic Online have also published reports over the years cautioning the public about such false claims about new currency denominations.\r\n\r\nMetro TV has also disassociated itself from the recent viral video.\r\n\r\n\u201cThe Management of Metro TV wishes to categorically state that the trending video is false and that it has never broadcast any such story,\u201d a statement read.\r\n\r\nFinancial experts advise the public to be vigilant about fake news concerning currency, especially amid Ghana\u2019s current economic challenges.\r\n\r\nThe Bank of Ghana remains the sole legal issuer of currency and any new denominations would be officially communicated.\r\n "

"No new GHS 500 banknotes have been printed"

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