Dr. Johnson Asiama
The Bank of Ghana (BoG) has announced that customers who issue dud cheques will face a three-year ban and one year restriction in accessing new credit facilities.
A notice issued on June 24, 2026, replaced earlier directives introduced in 2021 and 2025 and takes immediate effect said the BoG.
The Central Bank noted that the measures follows continued concerns over the high incidence of dud cheque which are issued despite previous regulatory interventions.
It said under the revised framework, 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 while customers will also pay a penalty of 20% of the cheque value, and will be prohibited from issuing cheques in Ghana for a minimum period of three years.
“The Bank of Ghana shall ban such a customer from issuing cheques within the country for a minimum period of three years. The customer may, however, be permitted to receive cheques and funds into the affected account and perform other electronic transactions on the account.”
“The Bank of Ghana has observed with grave concern the high issuance of dud cheques by some customers of banks and Specialised Deposit-Taking Institutions. The Bank of Ghana shall ban such a customer from accessing new credit facilities from the banking system for one year. The Bank of Ghana shall notify all banks and SDIs of the ban,” it stated.
According to the Central Bank, upon receiving notification, financial institutions will be required to inform affected customers within five working days, recall all unused cheque books and refrain from issuing new cheque books until the sanctions are lifted.
The Bank of Ghana has also hinted of plans to tighten oversight of persistent offenders through the creation of a Directory of High-Risk Cheque Issuers.
It further mentioned that customers who fail to return unused cheque books within ten working days after notification could face additional sanctions, including a possible ban from operating any current account.
Bank of Ghana further stated that such individuals may also be listed in the new high-risk directory which will serve as a reference database for the Central Bank and financial institutions when assessing customer risk profiles.
“Financial institutions are required to continue submitting information on customers who issue dud cheques to Credit Reference Bureaus in accordance with the Credit Reporting Act, 2007 (Act 726).
They must also submit monthly returns on dud cheque incidents to the Bank of Ghana by the 10th day of the following month, including “nil returns” where no cases are recorded,” it added
By Ebenezer K. Amponsah