The Bank of Ghana, in collaboration with the Ghana Police Service, has arrested seven individuals in Accra for allegedly misusing Ghana cedi banknotes. The arrested persons were found to be producing money bouquets and cakes using the banknotes for commercial purposes. This action forms part of the central bank's enforcement against the misuse, abuse, and illegal handling of Ghana cedi notes and coins.
According to Dinah Bonzi, Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, the exercise aims to send a strong warning to individuals and businesses involved in such practices. The Bank of Ghana has previously warned the public against practices including spraying money at events, creating money bouquets and decorations from banknotes, and other forms of physical damage or unconventional use of the currency.
The arrested individuals were found at various locations in Accra, and the Bank of Ghana stated that they will be prosecuted. Possible sanctions include fines or imprisonment, as stated by Ms. Bonzi. The central bank emphasized that 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. The Bank of Ghana wishes to issue a warning to the general public against using banknotes and coins to create money bouquets, money cakes for weddings, birthdays, graduations, and other similar events.
Today's arrest should serve as a clear warning to the public to desist from such practices. The Bank of Ghana, in collaboration with law enforcement agencies, will continue to take action against individuals and businesses involved in the misuse and abuse of the Ghana cedi.
The central bank's enforcement action is aimed at protecting the integrity of the Ghana cedi and promoting a culture of respect for the national currency. The public is urged to handle the Ghana cedi with dignity and refrain from engaging in practices that could damage or devalue the currency.
The seven individuals arrested will face prosecution, and the Bank of Ghana is committed to working with law enforcement agencies to prevent the misuse and abuse of the Ghana cedi. The public is warned to take necessary precautions to avoid engaging in such practices and to report any instances of currency misuse to the relevant authorities.
Key points
- The Bank of Ghana has arrested seven people for using Ghana cedi banknotes to create money bouquets and cakes for commercial purposes.
- The arrested individuals will face prosecution and possible sanctions, including fines or imprisonment.
- The Bank of Ghana is committed to protecting the integrity of the Ghana cedi and promoting a culture of respect for the national currency.
