BoG Reports 15.19% Decline in Dud Cheques Issued in 2024
The Bank of Ghana’s (BoG) Credit Reporting for 2024 has revealed a significant decline in the issuance of dud cheques — cheques dishonoured by banks due to insufficient funds — which remains a criminal offence under the Bank of Ghana Act.
According to the report, a total of 45,136 dud cheques were submitted by Banks and Specialised Deposit-Taking Institutions (SDIs) to credit bureaus in 2024, representing a 15.19% drop from the 53,522 recorded in 2023.
The central bank attributed the decline to its sustained public sensitisation campaigns highlighting the negative implications of issuing dud cheques, particularly their impact on an individual’s ability to access credit facilities. BoG reaffirmed its commitment to maintaining public awareness and enforcing directives on dud cheques to bolster confidence in the cheque payment system.
Breakdown by Customer Category
Dud cheques issued by individuals fell sharply from 10,655 in 2023 to 4,972 in 2024. Similarly, corporate customers issued 14,454 dud cheques in 2024, down 49.6% from 42,867 in 2023.
The report noted that all customers found in violation of dud cheque regulations in 2024 were sanctioned in line with existing directives.
Sector Confidence Strengthening
BoG stated that the notable drop in dud cheque cases, coupled with increased use of credit reports by lenders and heightened public awareness of credit reporting systems, reflects the growing robustness of Ghana’s credit infrastructure.
The central bank reiterated its resolve to further strengthen credit information systems through enhanced enforcement, sustained public education, and deeper stakeholder collaboration.
