BoG’s Dollar Cheque Directive Affects Duncan-Williams’ Church

The recent directive by the Central Bank against issuing dollar cheques is having an impact on some Churches.

The Christian Action Faith Ministries (CAFM) on Sunday February 9, 2013, for instance, asked its congregation to stop issuing dollar cheques for offertories, tithes and other payments.

Senior Executive Pastor of the Prayer Cathedral, Bishop Ebenezer Obodai announced to the congregation that such cheques were likely not to be honoured by the Banks.

He therefore urged the Church members to issue only cedi cheques.

The Bank of Ghana gave the directive against dollar cheques on February 4 as part of measures to shore up the cedi against the dollar and other major international currencies.

According to the statement, ‘no cheques or cheque books shall be issued on Foreign Exchange Accounts (FEA) and Foreign Currency Accounts (FCA) with effect from Wednesday February 5, 2014’.