Persons who issue dud cheques to face 5 years imprisonment – BoG

The Bank of Ghana (BoG) has said it is offensive for customers, banks and specialized deposit-taking institutions (SDIs) to issue dud cheques.

The regulator noted that persons who issue dud cheques will face imprisonment of up to 5 years.

In a press statement copied to GhanaWeb, the Bank of Ghana noted

Read full articlethat this new directive is in accordance with section 313(A) of the Criminal Offences Act, 1960 (Act 29).

According to the central bank, it has observed with grave concern, the high issuance of dud cheques by some customers of banks and SDIs, a development which has consequential effects on the acceptance of cheques for transactions."

"Per the statement dated March 11, under section 313(A) of the Criminal Offences Act, 1960 (Act 29) as amended, the issuance of a dud cheque, is an offence punishable by a fine and/or imprisonment of up to five (5) years," part of the statement read.

Read the BoG's press statement below: