Bank of Ghana and Police Arrest 7 People for Using Cedi Notes to Make Money Bouquets

• The Bank of Ghana, working with the Ghana Police Service, arrested seven people at various locations across Accra
• The suspects allegedly used Ghana cedi banknotes to produce money bouquets and cakes sold for commercial purposes
• The Bank of Ghana warned that anyone found promoting or facilitating currency misuse faces prosecution, fines, or imprisonment

Seven people have been arrested in Accra by the Bank of Ghana and the Ghana Police Service for allegedly using Ghana cedi banknotes to produce money bouquets and cakes for commercial sale.

Citi News reported that the operation forms part of a broader enforcement campaign by the central bank targeting the misuse, abuse, and unlawful handling of Ghana's currency.

Dinah Bonzi, Head of the Statistics Office at the Currency Management Department of the Bank of Ghana, confirmed the arrests and stated that the exercise was designed to send a clear message to individuals and businesses engaged in such practices.

Read also

Key Mahama appointee shares name of institutions behind La beach demolitions

"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.

The seven individuals were apprehended at separate locations across Accra.

According to Bonzi, each of them had been involved in producing currency-based decorative items for commercial purposes.

She added that the central bank would take a firm stance going forward. "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.

Prosecution and Possible Sanctions

The arrested individuals are expected to face prosecution. Ms. Bonzi indicated that the penalties provided under law include fines or custodial sentences.

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

The Bank of Ghana has historically cautioned the public against a range of practices considered unlawful under currency regulations, including spraying money at events, writing on or altering banknotes, scattering or stepping on currency, and using notes in decorative or unconventional ways.

Read also

How a dog stopped greedy Ghanaian traveller from smuggling several tubers of yam, others at US airport

"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," Ms. Bonzi added.

She urged members of the public to take the latest action as a firm signal that enforcement will continue. "Today's arrest should serve as a clear warning to the public. Let us all handle the Ghana cedi with dignity," she said.

Source: YEN.com.gh