According to the Director of the Currency Department at the central bank, Dominic Owusu, the use of the country’s legal tender for purposes aside a medium of exchange for the purchase of goods and services is illegal and can be subject to prosecution.
Mr Owusu speaking to the media on Thursday, March 30, 2023, said the bank had noticed a recent trend where some people use cedi notes as bouquets and hampers for gifts during weddings, birthdays and other celebrations, a practice he said must be stopped.
“In recent times, you see people using the currency for bouquets and then sometimes when they want to do presentations, they use the currency to do designs in baskets, hampers. It is against the Bank of Ghana policy.”
According to him, “Currency Act 64 talks about using coins which for now are banknotes for things either than that purpose for which the currency act was issued.”
He thus warned members of the public to desist from using cedi banknotes as hampers and bouquets.
“Desist from such acts, it is not in line with the policy so you must stop it. If you want to give a present, go and buy gifts. Don’t go and buy bouquets and do it,” he cautioned.
Money bouquets and hampers have become a trend with several evidence on social media where some people have turned the new phenomenon into a business venture.
Persons into this business prepare bouquets and hampers made of pattern-folded and stashed cedi notes which are prepared at a fee.
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Money bouquets and hampers have become a recent trend for gifts