Bank of Ghana introduces tougher penalties for dud cheque offenders

The Bank of Ghana (BoG) has announced a new set of sanctions aimed at curbing the issuance of dud cheques, warning that the growing practice is eroding confidence in the country’s payment system and reducing the acceptance of cheques in commercial transactions.

In a notice issued on Wednesday, June 24, 2026, and signed by the Secretary of the Bank, Aimee Vyda Quashie, the central bank expressed concern over the continued issuance of dishonoured cheques by some customers of banks and Specialised Deposit-Taking Institutions (SDIs).

“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, adding that the trend poses a threat to the credibility and effectiveness of the national payment system.

Under the new measures, customers who issue a dud cheque for the first time will be required to pay 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 their accounts will be placed under monitoring for a minimum period of one year.

For a second offence committed within one year of the first, the customer will face a penalty of 15 percent of the cheque value, while a third offence within the same period will attract a 20 percent levy. These repeat offences will likewise be reported to both the Credit Reference Bureaus and the central bank.

The BoG further announced that individuals who issue dud cheques on three separate occasions within a one-year period will be barred from issuing cheques in Ghana for at least three years.

Additionally, such offenders will be denied access to new credit facilities from the banking sector for a period of one year, according to the directive.

The central bank has also instructed banks and SDIs to retrieve unused cheque books from affected customers. Failure to return the cheque books may result in further sanctions, including the customer’s inclusion in a newly established Directory of High-Risk Cheque Issuers.

The Bank of Ghana said the tougher sanctions are intended to promote discipline in the use of cheques, strengthen confidence in the financial system and protect the integrity of payment transactions across the country.

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

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

Prince Antwi

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