The Bank of Ghana has imposed sanctions on 47 individuals and 245 business entities for issuing dud cheques.
A statement from the BoG on August 6, 2024 said the individuals and the entities breached a notice which was published in March 2021.
“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 offenders are accordingly banned from issuing cheques in Ghana for three years, effective 28th June 2024” it said adding that the offenders will also not be able to access new credit facilities from the banking system for three years with effect from 28th June 2024.
The statement explained that the above sanctions are without prejudice to any legal proceedings that may be taken against the offenders under Ghana’s criminal code.
According to the BoG, 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 public is by this Notice, cautioned to desist from issuing dud cheques as the offence has both legal and regulatory consequences. Bank of Ghana will continue to monitor the payment system space closely and is committed to the promotion of the integrity and soundness of the financial system”, the statement concluded.
Latest Stories
-
Full Text: NPP’s response to NDC’s call for independent audit of voter’s register
5 mins -
I’ll demonstrate against gov’t if it bans small-scale mining – Dennis Miracles Aboagye
8 mins -
AKOA Group signs MOU with GCTU
22 mins -
ECG privitisation: Who will put money in a failing organisation? – asks Nana Yaa Jantuah
47 mins -
Your call for independent audit of voter’s register hypocritical and mischievous – NPP to NDC
55 mins -
Why Ayariga coughed, itchy bottom and are you using the right condom – A review of Prof. Alex Dodoo’s ‘Healthy Secrets’
56 mins -
EC has a lot to do before the election – Methodist Bishop
1 hour -
Illegal mining affects food production – CSIR
1 hour -
Joy Sports secures exclusive interview with Michael Essien
1 hour -
Illegal Mining: President must declare a state of emergency – Nyaho-Tamakloe
1 hour -
Akufo-Addo assents to Affirmative Action Gender Equity Bill 2024
1 hour -
Ghanaian politicians aren’t interested in sports development – Veronica Commey
2 hours -
Joy Prime launches Big Chef Tertiary Season 2 on September 20
2 hours -
National Security, Highway Authority address human security issues in Ahanta
2 hours -
ACEP accuses ECG of exchange rate manipulation leading to GH₵7bn loss
2 hours