The Bank of Ghana (BoG) is warning persons and businesses against a recent tendency of rejecting coins as legal tender.
The central bank insists that all coins issued by it remain valid legal tender for the settlement of debts and the conduct of transactions throughout Ghana.
Therefore, those refusing to accept the GHp1, GHp5, GHp10, GHp20, GHp50, GH¢1 and GH¢2 coins are in violation of the Currency Act, 1964 (Act 242).
“No trader, transport operator, business entity, or individual has the discretion to unilaterally refuse to accept these coins in payment for goods, services, or other legitimate transactions on grounds of inconvenience, low value or personal preference,” the Bank said in a statement on Wednesday, July 22.
Signed by Secretary Aimee Vyda Quashie, the statement further warned: “Deliberately encouraging, helping, or instructing another person to commit this offence, for example, a business owner who instructs staff to reject coins, is punishable in the same way as if that person had committed the offence in person.
“A person found in the act of committing this offence may be arrested without a warrant.”
The Bank, therefore, urged the public to desist from rejecting coins it issues.
“Persons and business who persist in this conduct may be subject to arrest, prosecution, fines, or imprisonment in accordance with the law.”
The central bank says it will work with the Ghana Police Service to ensure compliance on the part of individuals and businesses.
“Members of the public who encounter difficulties in this regard are encouraged to report such instances to the nearest Bank of Ghana office, to the Ghana Police Service, or through the Bank’s official communication channels.”