The Bank of Ghana (BoG) has warned traders, commercial transport operators and businesses that refusing to accept Ghana cedi coins as payment for goods and services is against the law and attracts legal penalties.
In a public notice, the central bank said it had noticed a continued practice among some individuals and businesses of declining coins, including 1, 5, 10, 20 and 50 pesewa coins, as well as GH¢1 and GH¢2 coins.
The BoG emphasised that all coins issued by the Bank remain valid legal tender and must be accepted for transactions and the payment of debts throughout the country.
It stated that no individual, trader, transport operator or business has the authority to reject coins based on personal preference, inconvenience or the perception that they have little value.
The central bank explained that provisions under the Currency Act, 1964 (Act 242), make it an offence for anyone to refuse to provide goods or services to a customer solely because payment is made with legally recognised coins or notes, except in cases where the currency has been withdrawn from circulation or declared invalid.
According to the BoG, persons found guilty of the offence may face up to three years imprisonment, a financial penalty, or both.
The Bank further cautioned that business owners who instruct their employees to reject coins, as well as anyone who encourages such behaviour, may also be held liable under the law and face similar sanctions.
It added that individuals caught refusing legal tender coins could be arrested without a warrant.
The BoG urged the public and businesses to comply with the law and stop rejecting cedi coins, warning that continued violations could lead to arrest, prosecution, fines or imprisonment.
The central bank said it would work with the Ghana Police Service and other relevant security agencies to enforce the directive and ensure proper use of the national currency.
It also encouraged members of the public to report cases of coin rejection to any Bank of Ghana office, the police, or through the institution’s official communication platforms.
The BoG called on all citizens, businesses and organisations to respect and accept Ghana’s currency in all its denominations as required by law.
