The Bank of Ghana (BoG) says it is getting ready to phase out the GHCL and GHC2 notes in circulation.

The BoG Says these notes would be

replaced by their respective coin

Addressing a press conference after theMPC meeting Monday (27 September), the Governor of the Bank of Ghana, Dr Ernest Addison said, *Both the GHC1 note and the GHC2 note would eventually be phased out because they are not cost-effective in terms of the printing cost.

Notes that circulate very widely and

they come back very torn and soiled and they are very difficult for our currency processing machines to process them.