The Central Bank says its attention has been drawn to the selling and buying of the Ghana Cedi notes and coins currently in circulation by some persons and institutions on online platforms.
In a press release dated September 29, the Central Bank warned persons or institutions engaged in the buying or selling of the Cedi notes and coins currently in circulation, stating that persons found culpable would face up to 10 years of imprisonment.
“Any person who buys or sells or offers or attempts to buy or sell any Ghana Cedi note or coin at or for a lower rate than its face value or for an amount exceeding the face value, commits an offence and would be liable upon summary conviction to a term of imprisonment not exceeding ten (10) years, or to a fine not exceeding two thousand (2000) penalty units or both, in accordance with the Currency Act, 1964 (Act 242) as amended,” read an excerpt of the statement.
The Central Bank further in its press statement urged persons and institutions involved in the act to immediately desist from it.
Read below details of BoG’s press release:
