The Bank of Ghana has warned the public to desist from repairing and re-joining torn and soiled Ghana Cedi banknotes with adhesive tape for re-circulation.
In a statement issued on WednesdayOctober 7, the Central Bank said its attention has been drawn to a video circulating on social media in which individuals are seen repairing mutilated Cedi notes as a business activity.
The Bank cautioned that the practice undermines the integrity of the currency.
“The Ghana Cedi banknote is legal tender and an important national symbol. No person should engage in the repair, re-joining or other alteration of mutilated banknotes for re-issuance or recirculation,” the statement said.
According to the Bank, notes that have been taped, glued, stapled or otherwise improperly repaired are unfit for circulation. It warned that such notes could damage Automated Teller Machines (ATMs) and currency processing machines and may be rejected when presented for payment, resulting in financial loss.
The Bank of Ghana reminded the public that it has the sole mandate for managing Ghana’s currency. It advised persons in possession of mutilated notes to present them to any commercial bank for examination and replacement, in accordance with laid-down procedures.
It added that where a mutilated note is presented, more than half of the original note must be presented.
The public is therefore advised not to tape, glue, staple or re-join damaged banknotes, but to take them to a commercial bank for proper handling.
The Bank further urged the public to handle Cedi notes with care and to report anyone engaged in the improper repair or mutilation of banknotes to the Bank of Ghana or law enforcement agencies.
“Respect the Cedi. It is our National Pride,” the Bank stressed.
By Edem Mensah-Tsotorme
