Ghana: Central Bank Warns Public Against Abuse Cedi Notes

The central bank of Ghana has just issued a warning to the public to refrain from using cedi banknotes as decorations in bouquets and hampers when presenting gifts to others. It said the currency was issued to be used as a medium of exchange for the purchase of goods and services.

The Director of the Currency Department at the central bank, Mr. Dominic Owusu, said on (Thursday, March 30, 2023) that any other use of the currency was illegal and subject to prosecution, a graphic online reported.

He said the bank had noticed that some people were using the cedi notes as bouquets and hampers as gifts during weddings, birthdays, and other celebrations, a practice he said must be stopped. He added that defacing or damaging currency notes not only violates the law but also increases the likelihood of spoiling or damaging them.

This not only incurs a replacement cost but also adversely affects the operations of the Central Bank. Mr Owusu was speaking to journalists on how to preserve the currency as part of events marking Ghana month in March.

Mr. Owusu’s statements shed light on the detrimental effects of the improper handling of currency notes, which not only affects the economy but also the daily lives of the Ghanaian people. The Central Bank urges the public to cooperate and take responsibility to ensure the longevity of currency notes in circulation.