Seven arrested in Accra for using cedi notes to make money bouquets and cakes

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 action against the misuse, abuse and illegal handling of Ghana cedi notes and coins.

The suspects were picked up at various locations in Accra as authorities intensified efforts to protect the integrity of the national currency.

“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,” Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, Dinah Bonzi, said.

According to Ms. Bonzi, investigations showed that the suspects were using cedi banknotes to produce decorative items for social events, including weddings, birthdays and graduation ceremonies. She said the activity violates laws governing the handling of Ghana’s currency.

“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,” she stated.

The Bank of Ghana said the suspects will be prosecuted under the relevant provisions of the law. The central bank noted that penalties for such offences could include fines or imprisonment.

“From here they will be prosecuted. Fines or even imprisonment according to the Act,” she said.

She stressed that the Ghana cedi is the legal tender of the Republic of Ghana and must be treated with respect. She warned that any form of abuse or misuse of the currency could attract sanctions.

“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.

Ms. Bonzi said the latest arrests should serve as a deterrent to individuals and businesses engaged in such practices and urged the public to help preserve the dignity of the Ghana cedi.

“Today’s arrest should serve as a clear warning to the public. Let us all handle the Ghana cedi with dignity,” she said.