Old Fifty Ghana Cedi bank notes no longer legal tender

BY EDMUND SMITH-ASANTE
The old note

The Bank of Ghana (BoG), has announced that the old GH¢50 bank notes are no longer legal tender and so cannot be exchanged for goods and services rendered or in any transaction.
In a press release issued today, BoG informed all banks and the general public that “the old GH¢50 banknotes ceased to be legal tender after SEPTEMBER 30, 2012, and should therefore not be issued to members of the public.
The release says the old GH¢50 banknotes will however continue to be exchanged at all banks and the Bank of Ghana. 
BoG has therefore directed all banks in Ghana to accept the old GH¢50 banknotes for exchange or deposit from the general public after authentication.
The new note
It says thereafter all banks should endeavour to lodge the old GH¢50 banknotes with the Bank of Ghana and should ensure that lodgements of the old series are segregated from the upgraded series.
The release does not say though, when receipt of the old notes will stop or for how long it will continue.
The old GH¢50 banknotes were replaced with the upgraded GH¢50 banknotes introduced on August 21, 2012.

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