The Bank of Ghana (BoG) has sanctioned 245 businesses and 47 individuals for repeatedly issuing dud cheques over a two-year period. The affected customers, who issued dud cheques on at least three occasions between January 2022 and January 2024, have been penalized despite previous warnings about the consequences of their actions.

In a public notice issued on March 11, 2021, the Bank of Ghana had cautioned against issuing dud cheques, outlining strict sanctions for offenders. The penalties, which took effect on June 28, 2024, include a three-year ban on issuing cheques in Ghana and accessing new credit facilities from the banking system.

“The above sanctions are without prejudice to any legal proceedings that may be taken against the offenders under Ghana’s criminal code,” the notice stated.

The Bank has also directed banks and Specialised Deposit-Taking Institutions (SDIs) to inform the sanctioned customers of the ban and to recall all unused cheque books from them. These institutions have been instructed not to issue new cheque books to the affected customers until the sanctions are lifted.

The Bank of Ghana has urged the public to refrain from issuing dud cheques, warning that the offence carries both legal and regulatory consequences. The BoG emphasized its commitment to monitoring the payment system and ensuring the integrity and soundness of the financial sector.