Bank of Ghana crackdown as police arrest seven money bouquet makers

The Bank of Ghana (BoG), in joint operations with the Ghana Police Service, has arrested seven individuals in Accra.

The suspects were apprehended across various locations for allegedly using genuine Ghana cedi banknotes to craft money bouquets and cakes for commercial sale.

Central bank officials reiterated that using legal tender for decorative crafts, gift arrangements, or commercial products constitutes a severe abuse of national currency.

Speaking after the joint operation, BoG official Ms. Bonzi cautioned the public that individuals engaged in, aiding, or facilitating currency abuse face immediate prosecution.

She emphasized that the Ghana cedi is the sovereign legal tender of the republic and must be handled with dignity at all times.

Under existing banking regulations, defacing, gluing, pinning, or physically damaging banknotes carries stiff legal penalties.

All seven arrested suspects are currently in police custody as prosecutors prepare formal court charges against them.

According to the central bank, potential sanctions upon conviction include substantial court fines, prison terms, or both.

The regulator noted that such commercial practices alter the physical integrity of banknotes, accelerating wear and tear while increasing national reprinting costs.

The central bank previously issued public warnings against spraying money at public events, folding notes into shapes, or writing on legal tender.

Authorities urge citizens and gift vendors across the country to respect the national currency and utilize alternative decorative options for celebrations.