BoG Arrests Seven Over Use of Cedi Notes for Money Bouquets and Cakes

The Bank of Ghana (BoG), in collaboration with the Ghana Police Service, has arrested seven people in Accra for allegedly using Ghana cedi banknotes to make money bouquets and cakes for commercial purposes.

The arrests form part of the central bank’s enforcement efforts against the misuse, abuse and illegal handling of Ghana cedi notes and coins.

Head of the Statistics Office at the Currency Management Department of the BoG, Dinah Bonzi, said the exercise is intended to send a strong warning to individuals and businesses engaged in the practice.

She said using banknotes and coins to create money bouquets, money cakes and similar decorations for weddings, birthdays, graduations and other events constitutes the misuse and abuse of the currency and is unlawful.

According to the BoG, the seven individuals were arrested at various locations in Accra after they were found using Ghana cedi notes to produce money bouquets and cakes for commercial purposes.

Ms Bonzi warned that anyone found engaging in, aiding, promoting or facilitating such activities would be arrested and prosecuted.

She stressed that the Ghana cedi is the legal tender of the Republic of Ghana and must be treated with respect.

The arrested individuals are expected to face prosecution, with possible sanctions including fines or imprisonment under the law.

The BoG has previously warned the public against spraying money at events, creating decorations from banknotes, scattering or stepping on currency, writing on or altering notes, and other forms of physical damage or unconventional use of the cedi.

The latest arrests, the central bank said, should serve as a warning to the public to handle Ghanaian currency with dignity and in accordance with the law.