The Bank of Ghana, 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 the central bank’s ongoing enforcement efforts to curb the misuse, abuse, and unlawful handling of Ghanaian currency notes and coins.
Dinah Bonzi, Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, said the exercise is aimed at sending a strong warning to individuals and businesses engaged in the practice. She cautioned the public against using banknotes and coins to create money bouquets and money cakes for weddings, birthdays, graduations, and other occasions, describing the practice as an illegal misuse and abuse of the currency.
According to the Bank of Ghana, the seven suspects were arrested at different locations across Accra. Ms. Bonzi explained that they had allegedly been using Ghana cedi notes to produce bouquets and cakes for commercial purposes. Following the arrests, she warned that anyone found engaging in, supporting, promoting, or facilitating such activities would face arrest and prosecution by the appropriate law enforcement authorities.
“The Ghana cedi is legal tender of the Republic of Ghana and must be treated with respect,” Ms. Bonzi stated. She added that the misuse or abuse of the currency constitutes an offence and could result in sanctions under the law.
Possible prosecution and sanctions
The Bank of Ghana has announced that the individuals arrested will face prosecution. Ms. Bonzi stated that the possible penalties may include fines or imprisonment. “From here, they will be prosecuted,” she said, emphasising that “fines or even imprisonment may be imposed according to the Act.”
The central bank has previously warned the public against various harmful practices, such as spraying money at events, creating money bouquets or decorations from banknotes, scattering or stepping on currency, and writing on or altering notes.
Such actions result in physical damage to the currency and are considered unconventional use. Ms. Bonzi added that the recent arrests should serve as a warning to the public to refrain from these activities. “Today’s arrests should serve as a clear warning to the public. Let us all handle the Ghana cedi with dignity,” she urged.
