Fond of issuing dud cheques? The Bank of Ghana‘s (BoG ) new directive says your days of bouncing cheques with impunity are over.
These new and enhanced sanctions come after an earlier directive issued in 2021 has been flouted threatening the integrity of the country’s financial system.
To clamp down on the menace, the Central Bank has rolled out a strict set of sanctions to be meted out to offenders. six in all. This, the BoG believes, will nip the growing menace of dud cheques in the bud and discourage issuers from engaging in the act.
Citing Section 313(A) of the Criminal Offences Act, 1960 (Act 29), BoG reiterated that the issuance of dud cheques is a criminal offence punishable by a fine or up to five years in jail. This enhanced directive, the BoG says, is also aimed at tightening the noose with additional penalties to deter offenders.
According to the notice (BG/GOV/SEC/2025/31) issued on October 14, 2025, here’s what awaits anyone who issues a cheque without enough funds in their account:
10% Charge for First Offence
For first-time offenders, the Central Bank says the bank or the SDI should charge 10% of the cheque’s face value. It must also issue a warning notification, report the offender to the BoG and credit bureaus, and place the account under surveillance for one year.
15% Charge on Second Offence
Second-time offenders will face another penalty, which jumps to 15% of the cheque’s value. There is another formal warning issued, and the case is again reported to the BoG and credit bureaus.
20% Charge on Third Offence
On the Third Offence, the offender will pay 20% of the cheque’s face value. This time, BoG steps in directly.
Three-Year Ban
From the third offence, the Central Bank will ban the offender from issuing cheques for a minimum of three years and block access to new loans for one year, though they may still receive funds or perform electronic transactions.
Cheque Recall & Public Naming and Shaming
All the offender’s unused cheque books will be recalled within five working days, and BoG may publish the list of third-time offenders.
Current Account Ban
This is the final straw. Offenders who fail to return their cheque books within 10 days risk being banned from operating any current account and listed in the Directory of High-Risk Cheque Issuers. This is a blacklist that banks will reference before opening new accounts.
The Bottomline
The BoG further warns that banks and specialised deposit-taking institutions that fail to enforce these rules will also be sanctioned.
The crackdown comes amid rising incidents of dud cheques that have eroded trust in the financial system and disrupted business transactions. With these tougher penalties, the Central Bank hopes to restore confidence in cheque payments and send a strong message to would-be offenders: in Ghana’s banking system, a bounced cheque now bounces back harder.
