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 make money bouquets and money cakes for commercial purposes.
The arrests form part of an enforcement exercise aimed at tackling the misuse, abuse and improper handling of Ghana’s currency.
According to the Bank of Ghana, the seven individuals were arrested at different locations in Accra after they were found allegedly using cedi notes to produce decorative items for customers.
The development comes after the central bank issued warnings against the use of Ghanaian banknotes and coins for purposes that could damage, alter or undermine the integrity of the national currency.
Bank of Ghana warns against money bouquets
Dinah Bonzi, Head of the Statistics Office at the Bank of Ghana’s Currency Management Department, said the arrests should serve as a warning to individuals and businesses involved in the practice.
She explained that using cedi notes to create money bouquets and money cakes for weddings, birthdays, graduations and similar events constitutes the misuse and abuse of Ghana’s currency.
The Bank of Ghana has stressed that the cedi is the legal tender of the Republic of Ghana and must be handled with care and respect.
Suspects face prosecution
The Bank of Ghana said the seven suspects are expected to be prosecuted over the alleged misuse of the currency.
According to the central bank, persons found engaging in, aiding, promoting or facilitating the prohibited practices could face sanctions under the law, including fines or imprisonment.
The arrests therefore signal an intensification of enforcement against practices involving the improper use of Ghana cedi notes.
What other uses of the cedi are prohibited?
The Bank of Ghana has previously warned the public against several practices involving the misuse or abuse of banknotes and coins.
These include spraying money at social events, scattering or stepping on banknotes, tearing, crumpling, staining or soiling notes, writing on or altering banknotes, and using currency as decorations.
The central bank has specifically identified the growing practice of making money bouquets and similar decorative items from cedi notes as an unlawful use of the currency.
The latest arrests are expected to reinforce the Bank of Ghana’s warning to the public as money bouquets and money cakes have become increasingly popular at weddings, birthday celebrations and graduation ceremonies.
The BoG has urged the public to treat Ghana’s currency responsibly and desist from practices that could damage or undermine the integrity of the cedi.
The seven arrested persons are expected to face the appropriate legal process as investigations continue.
