Persons and businesses using Ghana cedi notes to make money bouquets, cakes and other decorative items for sale risk arrest, prosecution, fines or imprisonment, the Bank of Ghana (BoG) has warned.
The warning follows the arrest of seven people in Accra for allegedly turning cedi banknotes into bouquets and cakes for commercial purposes, in an enforcement exercise conducted by the central bank in partnership with the Ghana Police Service.
The arrests, according to the BoG, were part of efforts to protect the integrity of the national currency and curb practices that involve the misuse, abuse or physical alteration of cedi notes and coins.
Head of the Statistics Office at the Currency Management Department of the BoG, Dinah Bonzi, said the central bank would not relent in pursuing individuals who engaged in or facilitated such activities.
Ms Bonzi cautioned that although such items might be presented as gifts or decorations, using legal tender in that manner constituted an unlawful use of the currency.
“The Ghana cedi is a legal tender of the Republic of Ghana and must be treated with respect. The misuse or abuse of the currency is an offence and may attract sanctions under the law,” she stated.
Ms Bonzi further warned that the enforcement action would not be limited to those physically making the bouquets and cakes, but would also target persons who aided, promoted or facilitated the practice.
“Persons found engaging in, aiding, promoting or facilitating such acts will be arrested and prosecuted by the appropriate law enforcement agencies,” she stressed.
She explained that the practice had become increasingly common at social functions, including weddings, birthday parties and graduation ceremonies, where banknotes were arranged into bouquets and fashioned into cakes.
The central bank has also cautioned against other forms of currency abuse, including spraying money at social gatherings, scattering or stepping on banknotes, writing on or altering notes, and using them for decorations.
Ms Bonzi therefore urged the public to handle the cedi responsibly and desist from practices that could undermine the dignity and durability of Ghana’s legal tender.
BY STEPHANIE BIRIKORANG
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