Bank of Ghana: Ghana Cedi Money Bouquets Illegal Under Currency Act

• Money bouquets, popular gifts made from Ghanaian cedi notes, are considered illegal and unlawful by the Bank of Ghana.
• The Currency Act, 1964 (Act 242) makes defacing or improperly handling banknotes a criminal offense.
• Creating these arrangements damages the currency, shortening its lifespan and incurring significant replacement costs for the nation.
• Individuals involved in making, promoting, or facilitating money bouquets face potential arrest, prosecution, hefty fines, and custodial sentences.
• The Bank of Ghana has issued a public warning against the misuse and abuse of currency, including spraying money at events.

The Bank of Ghana's warning, articulated by Dinah Bonzi, emphasizes that individuals found engaging in, aiding, promoting, or facilitating these acts, including the misuse of legal tender Ghana, will face arrest and prosecution by law enforcement agencies.

Money bouquets have become a widespread trend in Ghana, particularly for celebratory occasions such as graduations, weddings, and birthdays. These elaborate gifts involve meticulously folding, stapling, and even gluing Ghanaian cedi banknotes into decorative shapes, often resembling floral arrangements or cakes. An observer at a University of Skills Training and Entrepreneurial Development (USTED) graduation in Mampong noted graduates receiving these displays, crafted from crisp GH¢1.00 and GH¢100.00 notes, which, despite their visual appeal, raised concerns about the treatment of national currency.

What many perceive as a harmless or creative form of gifting, however, has been explicitly identified by the Bank of Ghana as a serious issue. The central bank has issued a stern warning against the practice, clarifying that such uses of legal tender constitute misuse and abuse. Dinah Bonzi, the Head of the Statistics Office within the Bank of Ghana's Currency Management Department, underscored this position, stating unequivocally that creating items like money bouquets and money cakes for various events is both illegal and unlawful. This official stance aims to curb a trend that, while popular on social media and at public gatherings, carries significant legal and economic ramifications.

The legality surrounding the defacing of Ghanaian cedi notes is firmly established within the nation's legislative framework. Specifically, the Currency Act, 1964 (Act 242), in its Sections 18 and 22, along with subsequent regulatory guidelines enforced by the central bank, explicitly categorizes the tampering, defacing, altering, or improper handling of banknotes as a criminal offense. This legal provision highlights that the Ghanaian cedi is not merely a medium of exchange but a fundamental emblem of national sovereignty, deserving of protection from abuse.

The physical methods employed in constructing these money bouquets, such as the use of glue, adhesive tape, wire pins, and tight mechanical folding, inherently cause damage to the banknotes. Such alterations can lead to torn surfaces, residual adhesive, compromised security threads, and a general weakening of the paper substrate, rendering the notes unfit for circulation. The Bank of Ghana's warning, articulated by Dinah Bonzi, emphasizes that individuals found engaging in, aiding, promoting, or facilitating these acts, including the misuse of legal tender Ghana, will face arrest and prosecution by law enforcement agencies. The penalties for such offenses are severe, potentially including substantial fines and custodial sentences upon conviction, underscoring the gravity of defacing Ghanaian cedi law.

Beyond the direct legal consequences for individuals, the widespread abuse of currency, including the creation of money bouquets, imposes a significant financial burden on the nation. The operational lifespan of banknotes is considerably shortened when they are creased, soiled, or damaged by adhesives and other materials used in these decorative arrangements. This premature degradation necessitates the Bank of Ghana to withdraw unfit notes from circulation more frequently than would otherwise be required.

Replacing these damaged notes involves ordering new currency from international security printers, a process that incurs substantial costs. These expenditures represent public funds that could otherwise be allocated to critical public services, such as healthcare infrastructure, road construction, and educational programs. Therefore, every Ghanaian cedi note rendered unusable for a celebratory display effectively diverts resources from essential national development, highlighting that the misuse of legal tender Ghana has tangible economic repercussions that affect all citizens. The Bank of Ghana currency abuse warning is not just about preserving the integrity of the currency, but also about safeguarding national resources.

Lawyers and compliance officers in Ghana should advise clients, particularly those in event planning, gift services, or retail, about the criminal offense of defacing the Ghanaian cedi through practices like creating 'money bouquets.' They must be aware of the specific provisions of the Currency Act, 1964 (Act 242) and the Bank of Ghana's explicit warning regarding potential arrests, fines, and custodial sentences for engaging in, aiding, or promoting such acts.

Source: Original reporting via Tangled Sovereignty