Traders, transport operators must accept cedi coins – BoG

The Bank of Ghana (BoG) has directed traders, transport operators, businesses and individuals to accept all cedi coins in commercial transactions, warning that refusing legal tender is a criminal offence punishable under Ghanaian law.

In a public notice issued on Wednesday, the central bank stressed that “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 directive follows persistent reports of traders and commercial drivers refusing pesewa and cedi coins during transactions, often citing the difficulty of recirculating them because many customers are reluctant to accept the coins as change.

The Bank reminded the public that all coins it has issued, including the 1, 5, 10, 20 and 50 pesewa coins, as well as the GH¢1 and GH¢2 coins, remain valid legal tender and have not been withdrawn from circulation.

It stated that “All coins issued by the Bank of Ghana, including the pesewa denominations, remain valid legal tender for the settlement of debts and the conduct of transactions throughout Ghana, and have not been demonetised or withdrawn from circulation.”

According to the notice, refusing to sell goods or provide services because a customer is paying with legal tender constitutes an offence under the Currency Act, 1964 (Act 242), unless the currency has ceased to be legal tender.

The Bank noted that a person convicted of the offence is liable to imprisonment for a term not exceeding three years, a fine, or both. It also warned that anyone who encourages or instructs another person, including employees, to reject legal tender commits the same offence and is liable to the same punishment.

The BoG said it would work closely with the Ghana Police Service and other law enforcement agencies to ensure compliance with the law.

It urged members of the public to report incidents of coin rejection to the nearest Bank of Ghana office, the Ghana Police Service or through the Bank’s official communication channels, while calling on all Ghanaians to accept and handle the national currency responsibly.