Bank of Ghana Warns That Refusing Cedi Coins Could Attract Legal Penalties

Bank of Ghana Warns That Refusing Cedi Coins Could Attract Legal Penalties

The Bank of Ghana (BoG) has issued a strong warning to traders, transport operators, businesses, and the general public that refusing to accept Ghana cedi coins as payment is a criminal offence and could result in arrest, prosecution, fines, or imprisonment.

In a public notice issued on Wednesday, July 22, 2026, the central bank expressed concern over the growing practice of rejecting coins during commercial transactions. According to the BoG, some individuals and businesses have been refusing to accept 1, 5, 10, 20 and 50 pesewa coins, as well as the GH¢1 and GH¢2 coins, despite the fact that they remain legal tender in Ghana.

The Bank stressed that all coins issued by the Bank of Ghana have not been withdrawn from circulation and must be accepted for the payment of goods, services, and other legitimate transactions across the country.

Citing the Bank of Ghana Act, 2002 (Act 612), the Currency Act, 1964 (Act 242), and other applicable laws, the BoG stated that no trader, transport operator, business owner, or individual has the legal authority to reject cedi coins on the grounds of inconvenience, low value, or personal preference.

The central bank further warned that anyone who refuses to accept legal tender or instructs employees to reject coins commits an offence under Ghanaian law and, upon conviction, may face a fine, imprisonment for up to three years, or both. The Bank also noted that offenders may be arrested without a warrant where the law permits.

To ensure compliance, the Bank of Ghana announced that it will collaborate with the Ghana Police Service and other law enforcement agencies to enforce the law against individuals and businesses that continue to reject cedi coins.

The BoG has encouraged members of the public to report any person or business that refuses to accept cedi coins to the nearest Bank of Ghana office, the Ghana Police Service, or through the Bank's official communication channels.

The Bank also urged Ghanaians to handle all denominations of the national currency responsibly, emphasizing that public confidence in the cedi depends on every citizen respecting and accepting all legal tender in circulation.

The latest directive serves as a reminder that every Ghana cedi coin—from the smallest pesewa coin to the GH¢2 coin—remains valid for transactions, and refusing to accept them is not only unlawful but also undermines the country's financial system.

Source:Bibianinews.com