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 cakes for commercial purposes.
The arrests form part of the central bank’s enforcement drive against the misuse, abuse and illegal handling of Ghana cedi notes and coins.
Head of the Statistics Office at the Currency Management Department of the BoG, Dinah Bonzi, said the exercise is aimed at sending a strong warning to individuals and businesses engaged in the practice.
She said the use of cedi notes and coins to create money bouquets, money cakes and similar decorations for weddings, birthdays, graduations and other events constitutes an abuse of the currency and is unlawful.
According to Ms. Bonzi, the seven suspects were arrested at different locations in Accra after they were allegedly found using Ghana cedi notes to produce the items for sale.
She warned that anyone found engaging in, aiding, promoting or facilitating such activities would face arrest and prosecution.
“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 said.
The BoG said the arrested persons will be prosecuted, with Ms. Bonzi indicating that they could face fines or imprisonment depending on the applicable law.
The central bank has previously cautioned the public against practices such as spraying money at events, making decorations from banknotes, scattering or stepping on currency, writing on or altering notes, and other activities that physically damage or improperly use Ghana’s legal tender.
The latest arrests, the BoG said, should serve as a warning to the public to desist from such practices.
