GHANA · ECONOMY
Key Facts
- The country Ghana, a West African gold and cocoa exporter, is introducing a new Heritage Series of banknotes.
- The row The Bank of Ghana says its new GH¢50 note shows flag designer Theodosia Okoh, not her sister.
- The politics Opposition lawmakers, called the Minority, say they will demand costs and design checks from the bank.
- The date The new notes enter circulation on Tuesday 1 December 2026, alongside existing money.
Ghana’s new cedi notes are already caught in a row over portraits, one day after their launch. On Friday 13 November 2026 the Bank of Ghana, the country’s central bank, said the face on its new GH¢50 note (about US$4.30) is Theodosia Okoh, the woman who designed Ghana’s national flag.
Critics had said the engraved portrait looked more like her sister, Dr Letitia Obeng. For US readers, the dispute is a small test of public trust in the central bank, just before the notes reach shops and banks on Tuesday 1 December 2026.
What Happened
The Bank of Ghana unveiled its new Heritage Series of banknotes on Thursday 12 November 2026, and says the notes enter circulation on 1 December 2026. On Friday it issued a press statement on the GH¢50 note after people questioned the portrait.
The bank said the portrait was developed from different photographs of Mrs Okoh and adjusted artistically for technical and security reasons. During engraving, her usual head tie was replaced with a hairstyle common in her era.
Why Ghana’s New Cedi Notes Are Under Fire
The bank acknowledged that these changes made the portrait closely resemble Dr Obeng, Mrs Okoh’s sister. It said it appreciates the constructive engagement of the Okoh family.
A member of the Obeng family, Prof Eddie Obeng, has said the portrait shows his mother, Dr Letitia Obeng, and not his aunt. The bank rejects that and says the portrait is of Mrs Okoh.
What the Opposition Says
Kojo Oppong Nkrumah, an opposition member of parliament (MP) for the Ofoase-Ayirebi constituency, said on Friday that the Minority, the opposition caucus in Parliament, will demand that the bank appear before lawmakers. It wants the technical reason for changing the currency, the cost of the exercise, the checks made before the designs were approved and the cost of reprinting any note with errors.
The Minority also plans to ask for the due diligence report, with the names of those who approved the designs. We have not seen any cost figures from the bank or the government.
What Happens Next
The next fixed date is Tuesday 1 December 2026, when the Heritage Series starts to circulate. Until then, the bank has said it values its talks with the Okoh family, and the Minority says it will press for a hearing in Parliament.
The bank has already said the portrait was adjusted for security reasons, so a redesign is not the only possible outcome. Any change would raise the cost question the opposition has put on the table, because a reprint would add to the price of the whole exercise.
What It Means for You
Travellers and importers will not need to change anything on 1 December, because the new notes circulate alongside existing currency. At about 11.70 cedis per US dollar (RT, a market-data provider, 14 November 2026), a GH¢50 note is worth roughly US$4.30.
Investors in Ghanaian bonds should watch whether the dispute grows into a wider question about the central bank’s governance. So far, nothing in the public record suggests a change in interest-rate or currency policy.
What Is Not Known
The cost of the new series and the possible cost of reprinting have not been published. It is also not known whether the bank will appear before Parliament, or whether it will change any design.
The bank has not said who approved the designs. It is also unclear whether the bank will respond further to the Okoh and Obeng families.
More: Ghana news in English, every day from The Rio Times.
Frequently Asked Questions
Who Is on the New GH¢50 Note?
The Bank of Ghana says the portrait shows Theodosia Okoh, who designed Ghana’s national flag. Some people said it resembled her sister, Dr Letitia Obeng, and the bank acknowledges the engraving changes made them look alike.
When Do the New Cedi Notes Start Circulating?
The bank says the Heritage Series enters circulation on Tuesday 1 December 2026. Existing notes continue to circulate alongside the new ones.
What Does the Opposition Want?
The Minority wants the Bank of Ghana to appear before Parliament and explain the cost, the technical reasons and the design checks. It also wants the due diligence report and the cost of any reprinting.
Is the Portrait of Theodosia Okoh or Her Sister?
The Bank of Ghana says it is Mrs Okoh, built from several photographs. A member of the Obeng family says it shows Dr Letitia Obeng, and the bank rejects that.
Sources: Bank of Ghana, press statement on the GH¢50 note, 13 November 2026; Bank of Ghana, Heritage Series launch, 12 November 2026; Parliament of Ghana, Minority caucus statement, 13 November 2026; RT, USD/GHS exchange rate, 14 November 2026.
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