The Bank of Ghana says its attention has been drawn to a video circulating on social media showing individuals repairing and re-joining torn and soiled Ghana Cedi banknotes with adhesive tape for re-issuance as a business activity.
The central bank, in a statement, strongly cautioned the public against this practice, saying that the Ghana Cedi banknote is legal tender and an important national symbol.
“No person should engage in the repair, re-joining or other alteration of mutilated banknotes for re-issuance or recirculation. Such practices undermine the integrity of the currency and may affect its acceptability and proper processing within the cash cycle,” the BoG said.
It further explained that banknotes that have been taped, glued, stapled or otherwise improperly repaired are unfit for circulation.
Such notes may damage ATMs and currency processing machines and may be rejected when presented for payment or exchange, potentially resulting in financial loss to members of the public, it said.
“All mutilated banknotes should be presented to a commercial bank for examination and replacement in accordance with the Bank’s laid-down procedures. Where a mutilated banknote is presented for examination, more than half of the original banknote should be presented,” the BoG statement said.
the Central bank stressed “Do not tape, glue, staple, re-join or otherwise attempt to repair damaged banknotes for re-issuance or recirculation.
“Members of the public are advised to take all mutilated or damaged banknotes to a commercial bank for examination and replacement in accordance with the Bank of Ghana’s laid-down procedures.
“The public is encouraged to handle Ghana Cedi banknotes with care and to report persons engaged in the improper repair, re-joining or mutilation of banknotes to the Bank of Ghana or the appropriate law enforcement authorities.”
