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The Bank of Ghana (BoG), in partnership with the Ghana Police Service, has arrested seven individuals in Accra for allegedly using Ghana cedi banknotes to make money bouquets and cakes for commercial purposes.
The arrests are part of an enforcement exercise by the central bank aimed at curbing 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 is also intended to caution individuals and businesses against practices that undermine the integrity of the cedi.
She explained that using banknotes and coins to create money bouquets and cakes for occasions such as weddings, birthdays and graduations amounts to the misuse and abuse of the currency.
“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 Ms Bonzi, the seven suspects were picked up at various locations in Accra after allegedly producing money bouquets and cakes using Ghana cedi notes for sale.
She warned that individuals who participate in, assist with or promote such activities could be arrested and prosecuted.
“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.
Ms Bonzi stressed that the Ghana cedi, as the country’s legal tender, must be handled with care and respect.
“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.
Suspects Face Possible Fines or Imprisonment
The Bank of Ghana said the suspects will be prosecuted, with possible penalties including fines or imprisonment, depending on the applicable provisions of the law.
“From here they will be prosecuted,” Ms Bonzi said, noting that the law provides for “fines or even imprisonment.”
The central bank has previously warned against several practices involving the improper handling of banknotes, including spraying money at social events, making bouquets and decorations from currency, scattering or stepping on banknotes, writing on or altering notes, and other forms of physical damage or unconventional use.
Ms Bonzi said the latest arrests should serve as a warning to the public to handle the Ghana cedi responsibly.
“Today’s arrest should serve as a clear warning to the public. Let us all handle the Ghana cedi with dignity,” she said.