BoG cautions public against repairing mutilated cedi notes

The Bank of Ghana (BoG) has issued a warning to the public against attempting to repair, re-join or alter mutilated Ghana Cedi banknotes. In a statement released in Accra, the BoG emphasized that the Ghana Cedi holds significant national importance and legal tender status. The bank urged citizens to treat the currency with care and respect, citing concerns that improper handling could undermine its integrity and impede smooth processing within the cash cycle.

A video circulating on social media showed individuals using adhesive tape to reattach torn and soiled Cedi notes, sparking alarm among officials. The BoG firmly cautioned against such practices, warning that damaged banknotes which have been taped, glued, stapled or otherwise repaired are unsuitable for circulation. They could potentially damage automated teller machines and currency-processing equipment, leading to rejection when presented for payment or exchange, and potentially resulting in financial loss for individuals.

The BoG stated that it is the exclusive authority responsible for managing Ghana’s currency and advised the public to hand over mutilated or damaged banknotes to a commercial bank for examination and replacement, adhering to the bank's established procedures. For a note to be considered for examination, more than half of the original note must be presented.

The bank urged the public not to attempt any repairs on damaged banknotes, encouraging them to report any instances of improper repair, re-joining or mutilation to the Bank of Ghana or the relevant law enforcement agencies. The BoG emphasized the importance of handling Cedi banknotes with care, stressing the need to preserve their integrity as a symbol of national pride. "Respect the Cedi. It is our national pride," it concluded.