Accra: The Bank of Ghana (BoG) has called on businesses, traders, and the general public to recognize and accept Ghana cedi coins as legal tender for all business transactions, cautioning that the refusal to do so constitutes a legal offense.
According to Ghana News Agency, a statement issued and signed by Ms Aimee Vyda Quashie, Secretary to the BoG, emphasized that refusing to sell a product to a buyer because they are paying with coins is an offense. The sole exception applies to coins or banknotes that are no longer recognized as legal tender. The statement further warned that offenders could face a fine, imprisonment for up to three years, or both. It also highlighted that encouraging or assisting someone else in committing this offense would result in the same level of punishment.
The statement noted that business owners instructing their staff to reject cedi coins would be liable to face punishment as if they had committed the offense themselves. Additionally, it mentioned that individuals found committing the offense could be arrested without a warrant.
The BoG advised against rejecting cedi coins in commercial transactions and assured that the Bank is collaborating with the Police and other law enforcement agencies to enforce appropriate actions against individuals or businesses found guilty. The statement urged the public to report any incidents of refusal to accept cedi coins to the nearest BoG office, the Police, or through the Bank's official communication channels. It called upon individuals, businesses, and institutions to support the use of the national currency across all its denominations by accepting and transacting with it responsibly.