The Bank of Ghana (BoG) has announced tougher measures against the issuance of dud cheques, warning that customers who become third-time offenders will be barred from issuing fresh cheques for three years and denied access to new credit facilities across the banking and financial system.
The revised regulatory directive, issued on June 24, 2026, forms part of efforts by the central bank to curb the growing incidence of dud cheques and restore confidence in cheque-based transactions.
According to the directive, affected customers will continue to receive funds into their accounts and conduct electronic transactions. However, all banks and Specialised Deposit-Taking Institutions (SDIs) will be notified of the sanctions imposed on such customers.
“All Banks and Specialised Deposit Taking Institutions will be notified about this ban,” the central bank stated.
BoG further disclosed that the names of customers who issue dud cheques for a third time will be made public. Banks and SDIs have been directed to notify affected customers within five working days and recall all unused cheque books.
Customers who fail to surrender unused cheque books within ten working days will be reported to the central bank and subjected to additional restrictions, including a ban on operating current accounts. They will also be placed on a high-risk list of cheque issuers maintained by the Bank of Ghana.
New Penalties for First and Second Offences
Under the revised framework, customers who issue a dud cheque for the first time will be charged a levy equivalent to 10 per cent of the cheque’s face value and issued a warning.
The offence must also be reported to Credit Reference Bureaus and the Bank of Ghana, while the customer remains under surveillance for at least one year.
For a second offence committed within a year of the first, the levy increases to 15 per cent of the cheque’s face value, accompanied by another warning notification.
Explaining the rationale behind the revised directive, BoG said it had “observed with grave concern the high issuance of dud cheques by some customers of Banks and Specialised Deposit-Taking Institutions.”
The central bank noted that despite directives issued in 2021 and 2025, the practice continues to undermine public trust in cheques as a reliable payment instrument.
The new directive takes immediate effect and replaces all previous guidelines issued on the matter. BoG also reminded banks and SDIs to submit monthly reports on dud cheque incidents, warning that inaccurate, incomplete or delayed submissions could attract sanctions under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
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