BoG, Police arrest 7 in Accra over alleged use of cedi notes for money bouquets, cakes

The Bank of Ghana (BoG), working with the Ghana Police Service, has arrested seven people in Accra over the alleged commercial use of Ghana cedi banknotes to make money bouquets and cakes.

The arrests form part of the central bank's ongoing enforcement campaign against what it describes as the misuse, abuse and unlawful handling of Ghanaian currency.

Dinah Bonzi, Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, said the action was intended to reinforce the central bank's warning to individuals and businesses involved in the practice.

“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 said.

According to the BoG, the seven suspects were picked up at different locations in Accra after allegedly using cedi notes to produce the bouquets and cakes for commercial purposes.

Ms. Bonzi warned that the enforcement action would extend to anyone involved in facilitating or promoting the practice.

“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 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,” Diana Bonzi added.

Suspects face possible prosecution

The central bank said the seven people arrested would be prosecuted, with Ms. Bonzi indicating that offenders could face financial penalties or imprisonment.

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

The BoG has previously cautioned the public against a range of practices involving the unconventional use or physical abuse of banknotes.

These include spraying money at social events, using cedi notes to make bouquets and decorations, scattering or stepping on currency, writing on banknotes, altering notes and engaging in other activities that could damage the currency.

Ms. Bonzi said the latest arrests should reinforce the need for the public to handle Ghana's currency responsibly.

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