Bank of Ghana tightens sanctions on dud cheque issuers

Story by: Regina Bless

The Bank of Ghana (BoG) has introduced further sanctions against customers who issue dud cheques as part of measures to strengthen confidence in Ghana’s payment system.

Under the revised 2026 framework, customers who are banned from issuing cheques will have their unused cheque books recalled by their banks. Banks and Specialised Deposit-Taking Institutions (SDIs) are also prohibited from issuing new cheque books to affected customers until the applicable sanctions are lifted.

The BoG’s revised sanctions provide for escalating penalties. A first dud cheque offence attracts a levy of 10% of the cheque’s face value, while a second offence within one year attracts a 15% levy. A third offence within the same period attracts a 20% levy.

Third-time offenders face a minimum three-year ban from issuing cheques in Ghana and a one-year restriction on accessing new credit facilities from the banking system. They may, however, continue to receive funds and conduct electronic transactions on the affected account.

The BoG also requires customers to return unused cheque books within 10 working days after notification. Failure to do so may result in additional restrictions, including a possible ban on operating a current account and inclusion in a high-risk cheque issuers directory.

The central bank says the measures are intended to discourage the continued issuance of dud cheques and help maintain confidence in cheques as a payment instrument.