The Bank of Ghana has issued a formal notice regarding a video that has surfaced on social media platforms depicting individuals engaged in the practice of repairing and rejoining damaged and soiled Ghana Cedi banknotes using adhesive tape, subsequently reissuing them as a commercial enterprise.
In an official statement, the central bank has issued a stern warning to the public against engaging in such activities, emphasizing that the Ghana Cedi banknote constitutes legal tender and represents a significant national symbol.
“Individuals are prohibited from undertaking any repair, rejoining, or other modification of deteriorated banknotes intended for reissuance or recirculation. These practices compromise the credibility of the currency and may diminish its acceptability and appropriate handling throughout the cash distribution system,” the BoG stated.
The institution further noted that banknotes that have been secured with tape, adhesive, staples, or subjected to other improper restoration methods are deemed unsuitable for circulation.
Such compromised notes risk causing damage to automated teller machines and currency processing equipment and may face rejection upon presentation for payment or exchange, potentially causing financial hardship to the general public, according to the statement.
“All deteriorated banknotes must be submitted to a commercial bank for assessment and replacement in accordance with the Bank’s established protocols. When presenting a deteriorated banknote for examination, more than half of the original banknote must be provided,” the BoG statement clarified.
The Central Bank emphasized: “Refrain from applying tape, adhesive, staples, rejoining, or attempting any form of repair on damaged banknotes for reissuance or recirculation.
“The public is advised to deliver all deteriorated or damaged banknotes to a commercial bank for assessment and replacement in accordance with the Bank of Ghana’s established procedures.
“Citizens are encouraged to exercise proper care when handling Ghana Cedi banknotes and to report any individuals engaged in improper repair, rejoining, or damage of banknotes to the Bank of Ghana or the relevant law enforcement agencies.”
The citizenry is respectfully urged to exercise diligent care when handling Ghana Cedi banknotes and to promptly report any individuals engaged in unauthorized restoration, reassembly, or defacement of banknotes to either the Bank of Ghana or the relevant law enforcement agencies.
