The Bank of Ghana (BoG) has cautioned the public against repairing, re-joining or altering mutilated Ghana Cedi banknotes for re-issuance or recirculation.
The Bank said the Ghana Cedi was legal tender and an important national symbol, urging the public to handle the currency with care and respect.
In a statement issued in Accra on Wednesday by the Communications Department and copied to the Ghanaian Times, the BoG said its attention had been drawn to a video circulating on social media showing individuals repairing torn and soiled Cedi notes with adhesive tape for re-issuance as a business activity.
The Bank strongly cautioned the public against the practice, saying no person should engage in the repair, re-joining or other alteration of mutilated banknotes for the purpose of putting them back into circulation.
According to the BoG, such practices undermined the integrity of the currency and could affect its acceptability and proper processing within the cash cycle.
It explained that banknotes which had been taped, glued, stapled or otherwise improperly repaired were unfit for circulation.
The Bank further warned that such notes could damage automated teller machines (ATMs) and currency-processing equipment and might be rejected when presented for payment or exchange, potentially resulting in financial loss to members of the public.
The BoG said it had the sole mandate for the management of Ghana’s currency and advised the public to present all mutilated or damaged banknotes to a commercial bank for examination and replacement in accordance with its laid-down procedures.
It noted that, for a mutilated banknote to be considered for examination, more than half of the original note should be presented.
The Bank urged members of the public not to tape, glue, staple, re-join or otherwise attempt to repair damaged banknotes for re-issuance or recirculation.
It encouraged the public to report persons engaged in the improper repair, re-joining or mutilation of banknotes to the Bank of Ghana or the appropriate law enforcement authorities.
The BoG urged Ghanaians to handle Cedi banknotes with care, stressing the need to preserve the integrity of the currency as a symbol of national pride.
“Respect the Cedi. It is our national pride,” it said.
BY KINGSLEY ASARE
