BoG Arrests Seven For Using Cedi Notes To Make Money Bouquets And Cakes

The Bank of Ghana, in collaboration with the Ghana Police Service, has arrested seven persons 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 against the misuse and abuse of the Ghana cedi.

Speaking on the exercise, Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, Dinah Bonzi, said the move is to send a strong signal to persons engaged in the illegal handling of banknotes.

"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 stated.

According to her, the suspects were picked up from various locations in the capital where they had been producing the bouquets and cakes for sale.

She warned that anyone found engaging in, aiding or facilitating such acts will 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," Ms. Bonzi said.

"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.

The Bank of Ghana noted that those arrested will face prosecution and could be liable to fines or imprisonment under the law.

The central bank has over the years cautioned the public against acts such as spraying money at events, using banknotes for decorations, writing on notes, stepping on or scattering currency, and other practices that deface the cedi.

"Today's arrest should serve as a clear warning to the public. Let us all handle the Ghana cedi with dignity," Ms. Bonzi stressed.