BoG introduces stricter sanctions to tackle rise in dud cheques
Under the revised directive, customers who issue a dud cheque for the first time will incur a penalty equivalent to 10% of the cheque’s value and will be monitored for 12 months.
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The Bank of Ghana (BoG) has unveiled a new and more stringent sanctions framework aimed at curbing the growing menace of dud cheques in the financial system.
Under the revised directive, customers who issue a dud cheque for the first time will incur a penalty equivalent to 10% of the cheque’s value and will be monitored for 12 months. Repeat offenders face steeper consequences—15% for a second offence and 20% for a third.
Beyond the monetary fines, habitual offenders will be subjected to more severe restrictions, including a three-year prohibition on issuing cheques, a one-year suspension from new credit facilities, and blacklisting by credit reference bureaus as high-risk customers.
The new sanctions regime, which supersedes the 2021 directive, came into effect on Tuesday, October 14, 2025.
In its official statement, the BoG expressed concern over the increasing frequency of dud cheque issuances, warning that the practice was undermining confidence in Ghana’s cheque-based payment systems.
The Central Bank has directed all banks and specialised deposit-taking institutions (SDIs) to report monthly on dud cheque incidents and to publicly display the new sanctions in their banking halls and on their official websites.
According to the BoG, the strengthened policy seeks to restore public trust in cheque transactions and promote greater financial discipline across Ghana’s banking sector.
