The bank of Ghana has suspended 47 individuals and 245 institutions for persistently issuing dud cheques.
This was announced in a statement signed by its Secretary, Ms. Sandra Thompson.
The Statement noted that the said individuals and institutions issued three dud cheques between January 2022 and January 2024, in flagrant breach of the Bank’s Notice No.BG/GOV. 2021/03, dated March 11 2021.
Among others, the directive noted that the sanction was without prejudice to any legal issues arising from the offenders’ action.
According to the Bank of Ghana, banks and specialized depositing institutions should take steps to recall the cheque books of these affected offenders and ban these offending customers from using cheque books until the expiration of the sanction.
It further urged the public to desist from such action as it has both legal and regulatory consequences.