The Bank of Ghana (BoG) has issued a stern warning to traders, transport operators, and business entities across the country to immediately stop refusing Ghana Cedi coins for transactions or face criminal prosecution.
The central bank expressed deep concern over the persistent rejection of the 1 pesewa, 5 pesewa, 10 pesewa, 20 pesewa, and 50 pesewa coins, as well as the GH¢1 and GH¢2 coins, in exchange for goods and services.
In a public notice signed by the Secretary of the Bank, Aimee Vyda Quashie, the BoG reminded the public that all coins issued under its authority remain valid legal tender for settling debts and conducting daily trade throughout Ghana.
“No trader, transport operator, business entity, or individual has the discretion to unilaterally refuse to accept these coins in payment for goods, services, or other legitimate transactions on grounds of inconvenience, low value, or personal preference,” the statement read.
The central bank emphasized that refusing to accept legal tender constitutes a criminal offence under the Currency Act, 1964 (Act 242). Offenders convicted under the law face penalties including up to three years imprisonment, a fine, or both.
The directive further highlighted that business owners or individuals who deliberately instruct staff or others to reject coins are equally liable and subject to the same penalties.
Additionally, law enforcement officers are authorized to arrest persons found committing the offence without a warrant.
To ensure strict compliance, the central bank announced plans to partner with law enforcement authorities to monitor and prosecute recalcitrant traders and business entities.
“The Bank of Ghana shall work closely with the Ghana Police Service and other law enforcement agencies to enforce this law, and shall ensure that appropriate action is taken against any person or business found culpable of rejecting coins,” the central bank added.
Members of the public who experience difficulty spending coins are encouraged to report non-compliant businesses to the nearest police station or Bank of Ghana office. The central bank urged all citizens and institutions to support national currency handling practices and respect the legal tender status of all cedi denominations.
By: Rainbowradioonline.com/Ghana