News

The Bank of Ghana (BoG) has issued Notice No. BG/GOV/SEC/2026/12, introducing revised sanctions for the issuance of dud cheques. The directive seeks to discourage the issuance of cheques without sufficient funds and to maintain public confidence in Ghana's payment system.

The notice replaces the previous directives issued in 2021 and 2025 and took immediate effect on 24 June 2026.

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What is a Dud Cheque?

A dud cheque is a cheque presented for payment that cannot be honoured because there are insufficient funds available in the account to cover the amount written on the cheque.

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Sanctions

First Offence

Where a customer issues a dud cheque for the first time, the following measures will apply:

• A levy of 10% of the cheque's face value.
• A formal warning issued by the bank or SDI.
• Reporting of the incident to the Credit Reference Bureaus and the Bank of Ghana.
• The customer will be placed under surveillance for at least one year.

Second Offence (Within One Year)

If another dud cheque is issued within one year of the first offence:

• A levy of 15% of the cheque's face value.
• A second formal warning.
• The incident will again be reported to the Credit Reference Bureaus and the Bank of Ghana.

Third Offence (Within One Year)

A third offence within one year attracts more severe sanctions:

• A levy of 20% of the cheque's face value.
• A minimum three-year ban from issuing cheques in Ghana.
• A one-year restriction from obtaining new credit facilities from the banking system.
• Recall of all unused cheque books.
• The Bank of Ghana may publish the names of third-time offenders.

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Failure to Return Cheque Books

Customers who fail to return unused cheque books within ten working days after notification may face additional sanctions. These include being reported to the Bank of Ghana, possible restrictions on operating current accounts and inclusion in the Directory of High-Risk Cheque Issuers.

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Important Information for Customers

Customers who are banned from issuing cheques may still receive funds into their accounts and continue to perform other approved electronic banking transactions. The restriction applies only to the issuance of cheques.

Customers are encouraged to ensure that sufficient funds are available before issuing cheques. Repeated issuance of dud cheques may affect banking relationships, credit history and future access to credit facilities.

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