BTA Admin Bank of Ghana introduces stricter sanctions as the central bank moves to restore trust in cheque payments and strengthen financial discipline across the banking sector.
The Bank of Ghana (BoG) has announced tougher sanctions for customers who issue dud cheques for the first time, introducing new penalties aimed at strengthening confidence in the country’s payment system.
Under a new directive issued by the central bank, first-time offenders will face an immediate surcharge equivalent to 10% of the face value of the dishonoured cheque.
Affected customers will also receive a formal warning from their bank or specialised deposit-taking institution and will be reported to both the Credit Reference Bureaus and the Bank of Ghana.
One-year monitoring period
In addition to the financial penalty, offenders will be placed under close banking surveillance for at least one year.
During that period, their financial transactions and account activities will be monitored by their banks.
According to the BoG, the warning issued to customers must clearly outline the consequences of repeat offences and may be communicated through SMS, email or other official channels.
Banks are also required to properly document all warnings as part of an official compliance record for future reference.
BoG cites growing concern over dud cheques
The central bank said the directive became necessary because the issuance of dud cheques continues despite earlier interventions introduced to curb the practice.
According to the BoG, the growing number of dishonoured cheques has weakened trust in cheque-based transactions and negatively affected confidence within the financial system.
The regulator believes stricter sanctions at the early stages of violations will serve as a stronger deterrent and encourage more responsible financial behaviour among customers.
Banks instructed to enforce sanctions strictly
Financial institutions across the country have now been directed to enforce the measures immediately and ensure that all first-time offences are reported and sanctioned promptly.
The Bank of Ghana said the move forms part of broader efforts to strengthen transparency, discipline and stability within Ghana’s banking sector.
Industry analysts say the tougher measures could also encourage greater caution among businesses and individuals who rely heavily on cheque transactions, particularly in commercial trade and supplier payments.
The Bank of Ghana’s new directive signals a tougher regulatory approach toward dishonoured cheques, with first-time offenders now facing financial penalties, regulatory reporting and long-term monitoring.
The move reflects growing efforts by the central bank to restore trust in cheque payments and improve financial discipline across Ghana’s banking system.
