The National Chairman of the National Democratic Congress (NDC), Johnson Asiedu Nketiah, popularly known as …
Read More »Dud Cheques: BoG Introduces Up to 20% Penalty and Credit Restrictions
The Bank of Ghana (BoG) has introduced stricter sanctions for customers who issue cheques without sufficient funds, with penalties increasing from 10% to 20% of the cheque’s value for repeated offences.Under the revised rules, a cheque is classified as a dud cheque when there is not enough money in the issuer’s account to cover the amount stated. The bank will …
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