Sourced fact
The News
Ghanaian authorities have announced the arrest of seven women for using the local currency (cedi) to make "money cages" and sweet treats decorations, a practice considered illegal by the Bank of Ghana. According to a statement from the Bank of Ghana, these practices constitute an improper use of the national currency and damage its reputation. This action followed reports of women selling these cages across various parts of the capital, Accra.
Dinah Bonzi, a representative from the Currency Department at the Bank of Ghana, stated, "The cedi is the legal tender in Ghana and must be treated with respect." She added that "the abuse or illegal use of currency carries legal penalties." The Bank of Ghana noted that using currency in decorations such as flowers or throwing it at events like weddings is also a legal violation.
In the same context, authorities indicated that the arrested women will face criminal charges and could face penalties including fines or imprisonment. According to the Bank of Ghana's statement, these arrests are the largest in the history of enforcing laws against the misuse of currency.
The practice of using currency in decorations and gifts is common in Ghana, often requested for events such as weddings, holidays, and celebrations. However, authorities in Ghana and other African countries like Kenya, Nigeria, and South Africa have begun issuing warnings against using currency in this manner, as it can lead to legal penalties.
Analysis & context
Analysis & Context
Analytically, this case is part of the Bank of Ghana's efforts to protect the value of the national currency. The Bank of Ghana has repeatedly warned against practices such as throwing money at events or using it in decorations, which can lead to the erosion of the currency's value. In a broader context, this practice has become widespread in Ghana and across Africa, prompting authorities in countries like Kenya and Nigeria to issue similar warnings.
