BoG warns of prosecution over money bouquets

The Bank of Ghana (BoG) has issued a stern warning that individuals and businesses utilizing Ghanaian currency to craft decorative items for sale—such as bouquets, cakes, and other embellishments—could face arrest, prosecution, fines, or imprisonment. This stern message came in the wake of the apprehension of seven people in Accra, who were allegedly transforming cedi notes into bouquets and cakes for commercial gain.

The central bank's move was part of a concerted effort to safeguard the integrity of Ghana’s national currency and to deter activities that involve the tampering or misuse of cedi notes and coins.

Dinah Bonzi, the Head of the Statistics Office at the Currency Management Department of the BoG, emphasized that the bank would not back down in its pursuit of those involved in or supporting such illicit practices. She cautioned that while these items might be marketed as gifts or decorative pieces, employing legal tender in this manner is an unlawful act and could incur legal penalties.

"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," she warned.

Bonzi elaborated that the practice had become increasingly prevalent at social events, including weddings, birthday celebrations, and graduation ceremonies, where banknotes were creatively arranged into bouquets and ingeniously fashioned into cakes. The central bank has also issued a broader caution against other forms of currency abuse, which encompass practices like spraying money during social events, scattering or stepping on banknotes, writing on or altering notes, and using them for ornamental purposes.

Ms Bonzi therefore urged citizens to handle the cedi with care and to refrain from any actions that could devalue the dignity and longevity of Ghana’s legal tender.