The Bank of Ghana (BoG), in collaboration with the Ghana Police Service, has arrested seven people in Accra for allegedly using Ghana cedi banknotes to produce money bouquets and money cakes for commercial purposes.
The arrests form part of an enforcement exercise by the central bank to clamp down on what it describes as the misuse, abuse and unlawful handling of Ghanaian currency.
Head of the Statistics Office at the BoG’s Currency Management Department, Dinah Bonzi, said the exercise was intended to send a strong warning to individuals and businesses involved in the practice.
She said the use of cedi notes and coins to create money bouquets, money cakes and similar decorations for weddings, birthdays, graduations and other events constitutes an abuse of the currency and is unlawful.
“The Bank of Ghana wishes to issue a warning to the general public for using banknotes and coins to create money bouquets, money cakes for weddings, for birthdays, for graduations, and other similar events, which constitutes the misuse and abuse of the currency and is illegal and unlawful,” she said.
According to the BoG, the seven suspects were arrested at different locations in Accra after allegedly being found producing money bouquets and cakes using Ghana cedi notes for commercial purposes.
Ms Bonzi warned that individuals who engage in, assist, promote or facilitate such activities could face arrest and prosecution.
“Following today’s arrest on the alleged abuse of the Ghana currency, the bank wants to clearly state that persons found engaging in, aiding, promoting or facilitating such acts will be arrested and prosecuted by the appropriate law enforcement agencies,” she said.
She stressed that the Ghana cedi is the country’s legal tender and must be handled appropriately.
“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 added.
Possible prosecution and sanctions
The BoG said the seven suspects are expected to face prosecution, with Ms Bonzi indicating that the applicable sanctions could include fines or imprisonment.
“From here they will be prosecuted,” she said. “Fines or even imprisonment according to the Act.”
The central bank has previously cautioned the public against practices such as spraying money at social events, using banknotes for bouquets and decorations, scattering or stepping on currency, writing on banknotes or altering them.
Ms Bonzi urged the public to desist from practices that could damage or undermine the integrity of the Ghana cedi.
“Today’s arrest should serve as a clear warning to the public. Let us all handle the Ghana cedi with dignity,” she said.
