The Bank of Ghana is reminding consumers that the issuance of dud cheques still attract fine or an imprisonment of up to five years.

It is therefore urging customers to have enough funds in their account before issuing a cheque.

In a statement on financial literacy education on dud cheques, the Central Bank said consumers who issue cheques for the first time will be warned by their financial institution, whilst their offence is reported to the credit reference bureau.

“Your financial institution will place you under surveillance for a minimum period of three years when you issue a dud cheque for the first time”, it pointed out.

Again “if you issue a dud cheque for the second time within three years of the first offence, your financial institution will report your conduct to the Bank of Ghana”, adding “your details and the breach shall be recorded in a dud cheque register maintained at the BoG".

The Central Bank further warned that any one who issued a dud cheque for the third time in three years will be banned from issuing cheques within the country for a minimum period of three years.

Also, the affected customer will be banned from accessing new credit facilities from all financial institutions for a period of three years.

Additionally, the customer name will be published in two daily newspapers of national circulation.