The Bank of Ghana (BoG) has warned traders, transport operators and businesses against refusing to accept Ghana cedi coins, reminding the public that all denominations issued by the central bank remain legal tender.
The warning follows concerns over the widespread rejection of 1 pesewa, 5 pesewa, 10 pesewa, 20 pesewa and 50 pesewa coins, as well as the GH¢1 and GH¢2 coins, by some individuals and businesses.
In a notice issued on July 22 by the Secretary of the Bank, Aimee Vyda Quashie, the BoG said refusing to accept coins issued by the central bank constitutes an unlawful act.
“The Bank wishes to remind the general public that all coins issued by the Bank of Ghana remain the lawful currency of the Republic of Ghana and must be accepted and treated in accordance with the Bank of Ghana Act, 2002 (Act 612), as amended, the Currency Act, 1964 (Act 242) and other laws in force,” the Bank said.All Cedi Coins Remain Legal Tender
The central bank stressed that none of the coin denominations has been demonetised or withdrawn from circulation and that all remain valid for settling debts and conducting transactions across Ghana.
According to the BoG, no trader, transport operator, business entity or individual has the authority to reject coins based on personal preference, inconvenience or the perception that certain denominations have little value.
The Bank cited provisions under the Currency Act, 1964 (Act 242), warning that persons who refuse to sell goods or provide services solely because a customer pays with legal tender coins or notes could face criminal sanctions.
“The public is strongly advised to desist from the rejection of coins issued by the Bank of Ghana. Persons and businesses who persist in this conduct may be subject to arrest, prosecution, fines, or imprisonment in accordance with the law,” the statement added.Offenders Could Face Up to Three Years in Prison
The BoG said a person found committing the offence may be arrested without a warrant.
Those convicted could face imprisonment for up to three years, a fine, or both.
Under the Currency Act, it is an offence to refuse to sell an article to a buyer simply because the buyer is paying with coins or notes, except where the particular currency has ceased to be legal tender.
The Bank also cautioned business owners who instruct employees to reject legal tender coins, as well as individuals who encourage others to engage in such conduct, that they could face similar penalties.
BoG to Enforce the Law
The Bank of Ghana said it will collaborate with the Ghana Police Service and other law enforcement agencies to enforce the law.
Members of the public who encounter difficulties using Ghana cedi coins have been encouraged to report such cases to the nearest Bank of Ghana office, the Police Service or through the Bank’s official communication channels.
The central bank urged individuals, businesses and institutions to handle and accept the national currency responsibly across all denominations.
