The Governor of the Bank of Ghana, Dr Johnson Asiama, has clarified that the US dollar is not a legal form of payment in Ghana, and businesses have every right to reject it.

Speaking at the ABSA-UPSA Quarterly Banking Roundtable, Dr Asiama stated that only the Ghanaian cedi qualifies as legal tender in the country, meaning it is the only currency that must be accepted for payments and debt settlements.

“If someone tries to pay you in dollars, you can reject it. The dollar cannot be used everywhere the cedi is accepted,” he said.

He called on both businesses and the general public to support efforts to stabilise the cedi by insisting on its use in all local transactions.

According to him, accepting the cedi is not only a legal obligation but also a patriotic duty that contributes to national economic growth.

He warned against practices such as invoicing in dollars or pricing goods and services in foreign currencies, describing them as harmful to the economy and legally unacceptable.

Dr Asiama concluded by urging Ghanaians to treat the cedi as a national asset and a symbol of the country’s economic sovereignty.

DR/MA

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