The Bank of Ghana (BoG) has imposed sanctions on 47 individuals and 245 business entities for issuing dud checques.
In a statement issued on 6 August, the central bank said the affected bank customers issued dud cheques on at least three occasions between January 2022 and January 2024, despite warnings about the consequences of their actions.
The BoG said the offenders are accordingly banned from Issuing cheques in Ghana for three years, effective 28 June 2024 and also from accessing new credit facilities from the banking system for three years with effect from 28 June 2024.
“The above sanctions are without prejudice to any legal proceedings that may be taken against the offenders under Ghana’s criminal code.”
“Banks and Specialised Deposit-Taking Institutions (SDIs) whose customers are involved have been directed to notify the culprits of the ban and recall all unused cheque books from them. They shall not issue new cheque books to the affected customers until the sanctions are lifted,” the statement added.
Read the full statement below:
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