Bank of Ghana warns against repairing torn Cedi banknotes

The Bank of Ghana (BoG) has issued a warning against the practice of repairing, taping, gluing, or stapling torn and soiled Ghana Cedi banknotes for re-issuance or recirculation. The advisory follows social media footage showing individuals engaging in the repair of mutilated notes as a business activity.

The central bank stated that such alterations undermine the integrity of the currency and can damage ATMs and currency-processing machines. Improperly repaired notes may also be rejected during payment or exchange, leading to financial losses for the public.

To ensure proper management of the currency, the BoG directed that all mutilated banknotes should be presented to commercial banks for examination and replacement according to official procedures. For a note to be considered for replacement, more than half of the original banknote must be presented.

This warning follows a recent enforcement operation in Accra, where the Bank of Ghana and the Ghana Police Service arrested seven individuals for allegedly selling Cedi notes fashioned into money bouquets and cakes.