The Bank of Ghana (BoG), in collaboration with the Ghana Police Service, has arrested seven people in Accra for allegedly using Ghana cedi notes for commercial decorative purposes, including the production of money bouquets, money cakes and other currency-themed displays.
The arrests follow a directive issued by the central bank in July warning individuals, event organisers and businesses against the improper use of Ghanaian banknotes for decoration and entertainment purposes.
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According to the Bank of Ghana, practices such as money spraying, money bouquets, cedi jewellery, money cakes and other forms of currency displays constitute unlawful use or misuse of Ghana’s legal tender.
The central bank has therefore urged the public, businesses and event organisers to comply with the existing Ghana cedi regulations and avoid activities that involve the improper handling, alteration or commercial use of banknotes.
The BoG has further cautioned that members of the public who disregard the directive could face enforcement action as authorities intensify efforts to protect the integrity of Ghana’s currency.
Source: newsthemegh.com