Accept new GHC100, GHC200 notes; they are a legal tender - BoG to retail outlets

Accept new GHC100, GHC200 notes; they are a legal tender - BoG to retail outlets

The Bank of Ghana has called on the general public especially the retail outlets, to accept the new GHS 100 and GHS 200 currency notes as they are a legal tender for business.

The advice follows a viral video where a customer was allegedly turned away at a Game shop when he issued a 200 cedi note to pay for items he had purchased.

On November 29 2019, the Bank of Ghana announced that it had issued the new 100 and 200 Cedi notes which would be in circulation.

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The Bank of Ghana, among other things explained that the new cedi notes would be limited in circulation as it will be restricted to high-value transactions and will not be dispensed by ATMs.

According to Citi Business News reports, the Head of Financial Stability at the Bank of Ghana, Dr. Joseph France, and the Head of Currency Management Department, John Gyamfi, have engaged the management of Stanbic bank whose agent is alleged to have directed the rejection of the currency.

The officials have since advised all retail outlets to accept the 100 and 200 cedi notes as a legal tender at their various shops.

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Meanwhile, Social media users have ‘attacked’ a man known as Godwin after a video in which a shop rejected his GHc200 went viral.

Information available shows that he went to a Game retail centre at Achimota in Accra to purchase items.

However, the cashier refused to accept the GHc200 presented as payment by the man leading to the recording of a video.

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Source: Yen Ghana

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