Rejecting cedi coins could lead to a three-year jail term — Bank of Ghana warns
The Bank of Ghana (BoG) has cautioned traders, transport operators and businesses that refusing to accept Ghana cedi coins as payment is a criminal offence punishable by imprisonment, a fine, or both.
The central bank said it has observed the widespread and persistent rejection of 1 pesewa, 5 pesewa, 10 pesewa, 20 pesewa and 50 pesewa coins, as well as the GH¢1 and GH¢2 coins, despite their continued status as legal tender.
In a public notice issued on Wednesday, July 22, the BoG said it will work with the Ghana Police Service and other law enforcement agencies to ensure compliance with the law, urging the public to stop rejecting coins during commercial transactions.
"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tender for the settlement of debts and the conduct of transactions throughout Ghana, and have not been demonetised or withdrawn from circulation," the notice stated in part.
The Bank explained that no trader, transport operator, business entity or individual has the discretion to refuse coins on the grounds of inconvenience, low value or personal preference.
It added that anyone who refuses to sell goods or provide services because a customer is paying with legal tender coins commits an offence under the Currency Act, 1964 (Act 242).
It further cautioned that anyone who instructs or encourages another person to reject coins is liable to the same punishment and that offenders may also be arrested without a warrant.
"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 Bank said.
The BoG encouraged members of the public who encounter businesses or individuals refusing to accept coins to report such incidents to the nearest Bank of Ghana office, the Ghana Police Service or through the Bank's official communication channels.