The Banks Will Withdraw Old Notes Gradually Until The New Notes Take Over Completely – Mahama

According to a report by TV3 Ghana today being Thursday, November 12, 2026, President John Dramani Mahama has indicated that the existing banknotes currently in circulation will be gradually withdrawn from the banking system to make way for the newly introduced Heritage Series banknotes.

According to the President, the transition will be carried out progressively, with banks expected to withdraw the old currency notes over time until the new Heritage Series banknotes completely replace them in circulation.

The announcement forms part of the arrangements surrounding the introduction of the new banknote series, which is expected to mark a significant development in Ghana’s currency system.

The gradual approach is intended to allow financial institutions and members of the public to adjust to the changes without creating unnecessary disruptions to everyday financial transactions.

Under the proposed arrangement, banks will play an important role in facilitating the withdrawal process by collecting the existing notes as they are deposited and ensuring that the transition to the new currency series takes place smoothly.

The move is also expected to require cooperation between financial institutions, businesses and ordinary Ghanaians to ensure that the replacement process is properly managed.

For many citizens, the announcement raises interest in how the new Heritage Series banknotes will be introduced and how long the existing notes will remain in circulation during the transition period.

The gradual withdrawal is expected to give the public sufficient opportunity to become familiar with the new banknotes while allowing banks to manage the replacement process through their normal banking operations.

President Mahama’s announcement therefore provides an indication of the government’s intended direction regarding the transition from the old banknotes to the new Heritage Series, with the ultimate objective of ensuring that the new notes eventually become the main currency in circulation.

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