BoG issues strong warning to Ghanaians rejecting cedi coins, offenders risk jail term
- The Bank of Ghana issued a warning to traders, transport operators and businesses that have been rejecting Ghana cedi coins as payment
- The central bank said all coins it has issued remain legal tender and that refusal to accept them is an offence under the Currency Act, 1964
- Business owners who instruct their employees to reject approved coins could also face the same penalties under the law
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The Bank of Ghana (BoG) has cautioned individuals and businesses that turning away Ghana cedi coins during transactions is a criminal offence punishable by a fine, a jail term of up to three years, or both.
The central bank issued the warning following reports that merchants, transport operators and various businesses across the country have been declining certain coin denominations.
Source: Facebook
According a report by Citinewsroom, the affected coins include the 1 pesewa, 5 pesewa, 10 pesewa, 20 pesewa and 50 pesewa, as well as GH¢1 and GH¢2 coins.
BoG maintains coins remain legal tender
The BoG stated that every coin it has issued remains legal tender and must be accepted for payment unless it has been formally withdrawn from circulation.
The central bank made clear that finding coins inconvenient or considering them less valuable does not give any individual or business the right to refuse them.
Under the Currency Act, 1964 (Act 242), rejecting approved cedi coins constitutes a criminal offence.
Anyone found guilty faces a fine, imprisonment for up to three years, or a combination of both penalties.
The BoG also noted that business owners who instruct their staff to turn away legal tender coins are not exempt from liability and may face the same legal consequences as those who directly refuse the coins.
Beyond the legal warning, the bank urged members of the public to actively report instances of coin rejection.
Reports can be made to the nearest BoG office, the Ghana Police Service, or through the central bank's official channels.
The BoG called on all Ghanaians and businesses operating in the country to uphold the integrity of the Ghana cedi by accepting all approved coins without exception, framing compliance as both a legal obligation and a civic responsibility.
Ghana cedi continues losses in 2026
In a related development, YEN.com.gh reported that the Ghana cedi had depreciated by 8.89% since January as businesses struggled to secure enough foreign exchange from the market.
Energy sector players seeking dollars to finance crude oil imports and payments to power producers were among those contributing to the pressure on the local currency.
The Bank of Ghana had increased its weekly forex auction to $220 million, but $201 million in bids remained unmet at Thursday’s spot auction.
Source: YEN.com.gh
