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GH¢2 note was meant to celebrate Nkrumah’s birthday – Bank of Ghana
Dr Ernest Addision, the governor of the Bank of Ghana has said that another reason behind the decision by the central bank to phase out the GH¢2 note is because the note has served its purpose.
According to him, the notes were issued in remembrance of Kwame Nkrumah’s centenary birthday anniversary and with the event marked years ago, it is only right that the BoG stops its circulation.
“The GH¢1 note and GH¢2 note would eventually be phased out because they are not cost-effective in terms of the printing cost. They circulate very widely and come back very torn and soiled, and they are very difficult for our currency processing machines to process”.
He further said that “We have bales of GH¢1 notes that we are not able to process. So the view for the longer term is more or less get out of the GH¢1 and GH¢2 notes and use the GH¢1 and GH¢2 coins”.