The Bank of Ghana (BoG) has issued a firm warning to the public against the refusal to accept coins—particularly lower denominations such as the 10 and 20 pesewa coins—as legal tender.
According to the Central Bank, rejecting coins not only violates the law but also poses a threat to the country’s efforts to maintain price stability. The warning comes amid growing reports that some individuals and businesses are turning down coins when given as change.
Speaking at the opening of a workshop on currency management and forecasting, hosted by the West African Institute for Financial and Economic Management (WAIFEM) on Monday, July 14, the Head of Currency Management at the BoG, Dominic Owusu, stressed that all Ghanaian coins and banknotes issued by the Bank are valid legal tender and must be accepted in all transactions without exception.
“We will continue to emphasise to Ghanaians that there is no justification for rejecting any currency that has been legally issued,” Owusu said. “I want to encourage everyone to accept all denominations—one pesewa, five pesewas, ten pesewas, twenty pesewas, fifty pesewas, one cedi, two cedis, and even the two Ghana cedi coin—as all are legal tender.”
Mr Owusu further explained that the refusal to accept coins could encourage vendors to round up prices, thereby contributing to inflationary pressure. He also noted that coins are more durable than notes and offer cost savings in terms of currency production.
“Please accept the coins. No one should reject any coin legally issued by the Central Bank,” he reiterated.
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