The Bank of Ghana has issued a warning against the illegal use of cedi banknotes as bouquets and hampers for gifts.
According to the Director of the Currency Department at the central bank, Dominic Owusu, the use of the country's legal tender for any purpose other than a medium of exchange for the purchase of goods and services is illegal and can result in prosecution.
Speaking to the media on Thursday, March 30, 2023, Mr. Owusu stated that the bank had noticed a recent trend where some people were using cedi notes as bouquets and hampers for gifts during weddings, birthdays, and other celebrations. He emphasized that this practice is against the Bank of Ghana policy and must be stopped.
“In recent times, you see people using the currency for bouquets and then sometimes when they want to do presentations, they use the currency to do designs in baskets, hampers.
It is against the Bank of Ghana policy,” said Mr. Owusu. He added that the Currency Act 64 prohibits the use of coins or banknotes for anything other than their intended purpose.
The Director of the Currency Department at the Bank of Ghana cautioned members of the public to desist from using cedi banknotes as hampers and bouquets.
He advised them to purchase gifts instead of resorting to this illegal and inappropriate practice.
“Desist from such acts, it is not in line with the policy so you must stop it. If you want to give a present, go and buy gifts. Don't go and buy bouquets and do it,” he cautioned.
Money bouquets and hampers have become a recent trend, with several examples of this new phenomenon being shared on social media.
Some people have even turned this trend into a business venture, charging fees to prepare bouquets and hampers made of pattern-folded and stashed cedi notes.
However, the Bank of Ghana's warning against the use of cedi banknotes as gifts has sparked concern among individuals who have recently indulged in this trend.
They fear that the bank's intervention could negatively impact their businesses and earnings.
The bank has, however, emphasized that it will continue to enforce its policies and regulations to ensure that the country's legal tender is used appropriately.
The Bank of Ghana has also urged the public to report any individual or business found engaging in the illegal use of cedi banknotes as gifts.
Source: Mckpage.com
