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The Bank of Ghana (BoG) has sanctioned 47 individuals and 245 business entities for repeatedly issuing dud cheques. The affected customers issued dud cheques at least three times between January 2022 and January 2024, despite prior warnings.
In a statement dated August 6, 2024, the BoG announced that these offenders are banned from issuing cheques and accessing new credit facilities from the banking system for three years, effective June 28, 2024. The sanctions do not preclude any legal actions that may be taken under Ghana’s criminal code.
The BoG has directed banks and Specialised Deposit-Taking Institutions (SDIs) to notify the offenders of the ban and recall all unused chequebooks from them. New chequebooks will not be issued to these customers until the sanctions are lifted.
The BoG also urged the public to avoid issuing dud cheques, emphasizing that this offence carries legal and regulatory consequences. The Central Bank remains committed to monitoring the payment system closely and upholding the integrity and soundness of the financial system.
