Stop taping, gluing damaged cedi notes for re-issuance – BoG tells Ghanaians
The Bank of Ghana (BoG) has cautioned the public against repairing, re-joining or altering mutilated Ghana cedi banknotes for re-issuance or recirculation.
The warning follows the circulation of a video on social media showing individuals using adhesive tape to repair torn and soiled cedi notes as part of a business activity.
In a statement issued on Wednesday, October 7, the central bank said the practice undermines the integrity of the currency and could affect the acceptability and proper processing of banknotes within the cash cycle.
“The Ghana Cedi banknote is legal tender and an important national symbol. No person should engage in the repair, re-joining or other alteration of mutilated banknotes for re-issuance or recirculation," the statement read in part.
The BoG explained that banknotes that have been taped, glued, stapled or otherwise improperly repaired may be unfit for circulation and could damage ATMs and currency-processing machines.
It cautioned that such notes may also be rejected when presented for payment or exchange, potentially resulting in financial losses for members of the public.
The central bank reminded the public that it has the sole mandate for the management of Ghana’s currency and urged holders of damaged notes to present them to commercial banks for examination and replacement.
“Members of the public are advised to take all mutilated or damaged banknotes to a commercial bank for examination and replacement in accordance with the Bank of Ghana’s laid-down procedures," the central bank urged.
The central bank stressed that protecting the integrity of the cedi is a shared responsibility and urged the public to respect the currency as a national symbol.