BoG warns against gluing, taping cedi notes; directs public to banks for replacement

The Bank of Ghana (BoG) has warned the public against taping, gluing or stapling torn cedi banknotes for resale or recirculation, directing holders of damaged notes to submit them to commercial banks for examination and possible replacement.

The warning comes days after the central bank and the Ghana Police Service arrested seven people in Accra over the alleged sale of cedi notes fashioned into money bouquets and cakes.

The central bank stressed that it has the sole mandate for managing Ghana’s currency and urged the public to use approved channels when dealing with damaged notes.