Customers who repeatedly issue dud cheques could face a three-year ban from issuing cheques and lose access to new credit facilities under new measures announced by the Bank of Ghana.
In a notice issued on June 24, the central bank said first-time offenders will be charged 10% of the cheque’s value, rising to 15% for a second offence and 20% for a third offence within a year.
“The Bank of Ghana shall ban such a customer from issuing cheques within the country for a minimum period of three years,” the notice stated.
The central bank added that affected customers will also be barred from accessing new credit facilities from the banking system for one year.
BoG said the measures are intended to reduce the continued issuance of dud cheques and maintain confidence in the payment system.
See full statement below;
