Bank of Ghana warns against commercial use of cedi notes for decorative items
What happened
The Bank of Ghana issued a warning regarding the commercial use of Ghana cedi notes, advising against turning them into items such as bouquets or cakes for sale. This warning follows the arrest of seven individuals in Accra during an enforcement exercise conducted by the central bank and the Ghana Police Service. The Bank of Ghana stated that the arrests were part of efforts to protect the integrity of the national currency and curb the misuse or physical alteration of cedi notes and coins.
From ghanaiantimes.com.gh
Why it matters
The central bank stated that the misuse or abuse of the currency is an offense and may attract legal sanctions. The warning applies not only to those physically creating the items but also to any persons who aid, promote, or facilitate this practice. The Bank of Ghana emphasized that the cedi is the legal tender of the Republic of Ghana and must be treated with respect.
Cooperation between law enforcement agencies in Ghana is ongoing.
From ghanaiantimes.com.gh
Who's involved
- Ghana Police ServicePartnered with the central bank in joint enforcement exercises.
- Bank of GhanaCentral bank of Ghana, issuing the warning about currency integrity.
How it developed
Newest first. Tap a step to see who reported it.- Persons were arrested by the Ghana Police Service over the use of money bouquets.Sub-event
Joint enforcement exercises conducted by Ghana Police Service and Bank of Ghana.1 source
Keep exploring
Part of
Cooperation between law enforcement agencies in Ghana.Also in this story
- Appointments and reassignments within Ghana's security apparatus, including the National Security Secretariat and the Ghana Police Service.
- Ghana and Interpol cooperate to address a fraud network targeting American elderly victims.
- Ghana is improving oversight of its firearms regime through efforts by the Interior Ministry.
The entities involved
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Ghana Police Service
Main law enforcement agency of Ghana
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Bank of Ghana
central bank of Ghana