BoG cracks down on dud cheque issuers with tougher penalties

The Bank of Ghana (BoG) has introduced stricter sanctions for customers who issue dud cheques, warning that the growing trend is undermining confidence in the country's payment system and affecting the use of cheques in business transactions.

According to a notice signed by the Secretary of the Bank, Aimee Vyda Quashie, on Wednesday, June 24, 2026, the new sanctions are aimed at discouraging the persistent issuance of dud cheques despite earlier directives introduced to address the problem.

"The Bank of Ghana has observed with grave concern the high issuance of dud cheques by some customers of banks and SDIs," the notice stated.

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It added that the development has "consequential effects on the acceptance of cheques for transactions" and threatens confidence in the payment system.

According to the Bank, first-time offenders will be charged a penalty equivalent to 10 percent of the cheque's face value.

Their details will also be reported to Credit Reference Bureaus and the Bank of Ghana, while the affected account holder will be placed under surveillance for a minimum of one year.

Customers who issue a second dud cheque within one year of the first offence will face a levy of 15 percent of the cheque's value, while those who commit a third offence within the same period will be charged 20 percent.

These offences will also be reported to the Credit Reference Bureaus and the central bank.

The BoG further noted that customers who issue dud cheques on three occasions within a year will be prohibited from issuing cheques in Ghana for at least three years.

"In addition, the Bank of Ghana shall ban such a customer from accessing new credit facilities from the banking system for one year," the notice said.

The central bank urged banks and SDIs to recall unused cheque books from affected customers and warned that individuals who fail to return them could face additional sanctions, including being listed in a new Directory of High-Risk Cheque Issuers.

Notice: Sanctions for the Issuance of Dud Cheques. pic.twitter.com/wfO7nvRgpb

— Bank of Ghana (@thebankofghana) June 24, 2026