The Bank of Ghana (BoG) has cautioned the public against repairing torn and soiled Ghana cedi banknotes with adhesive tape for resale or recirculation.
The warning follows the circulation of a social media video showing individuals joining damaged banknotes with tape and preparing them for re-issuance as a business activity.
In a public notice, the central bank said the practice could undermine the integrity of the currency and affect its acceptance and processing within the cash system.
“The Bank of Ghana strongly cautions the public against this practice,” the notice stated.
The Bank explained that banknotes repaired with tape, glue, staples or other improper methods are considered unfit for circulation.
It warned that such notes could damage automated teller machines (ATMs) and currency-processing equipment. They may also be rejected when presented for payment or exchange, potentially causing financial losses to holders.
The central bank reminded the public that it has the sole mandate for managing Ghana’s currency and urged people to follow the approved process for replacing mutilated banknotes.
“All mutilated banknotes should be presented to a commercial bank for examination and replacement in accordance with the Bank’s laid-down procedures,” the notice stated.
The BoG further advised that anyone presenting a damaged banknote for examination must provide more than half of the original note.
It also outlined steps the public should take when handling torn or damaged cedi notes.
These include avoiding attempts to tape, glue, staple or rejoin damaged notes for recirculation and taking them to a commercial bank for assessment and possible replacement.
The Bank of Ghana has encouraged the public to handle cedi banknotes carefully to preserve their condition and usability.
It also urged people to report individuals involved in the improper repair, rejoining or mutilation of banknotes to the central bank or the appropriate law enforcement authorities.
The warning highlights the importance of protecting the quality of Ghana’s currency and ensuring damaged notes are handled through approved banking procedures.
The BoG ended its notice with a call for national responsibility, stating: “RESPECT THE CEDI. IT IS OUR NATIONAL PRIDE.”
Read the statement below:
