BoG Warns Against Taping and Reissuing Damaged Cedi Notes
The Bank of Ghana (BoG) has cautioned the public against repairing and rejoining torn or mutilated Ghana Cedi banknotes with adhesive tape for re-issuance or recirculation.
The warning follows the circulation of a video on social media showing individuals repairing damaged and soiled banknotes as a business activity.
In a statement, the central bank said the Ghana Cedi is legal tender and an important national symbol, stressing that no person should engage in the repair, rejoining or alteration of mutilated banknotes for re-issuance.
The BoG said such practices undermine the integrity of the currency and could affect its acceptability and proper processing within the cash cycle.
It explained that banknotes that have been taped, glued, stapled or otherwise improperly repaired are considered unfit for circulation.
According to the central bank, such notes could damage ATMs and other currency-processing machines and may also be rejected when presented for payment or exchange, potentially causing financial losses to the public.
The BoG advised members of the public to take all mutilated or damaged banknotes to a commercial bank for examination and replacement in accordance with established procedures.
It noted that when a mutilated banknote is presented for examination, more than half of the original note must be available.
The central bank further urged the public to handle Ghana Cedi notes with care and report persons engaged in the improper repair, rejoining or mutilation of banknotes to the BoG or the appropriate law enforcement authorities.
The BoG reiterated that the public should not tape, glue, staple, rejoin or otherwise attempt to repair damaged banknotes for re-issuance or recirculation.
By Esther Padmore Amonoo
