Police Arrest 41 Suspects, Seize GH¢1.2 Million in Nationwide Forex Operation

The Criminal Investigation Department (CID) has arrested 41 individuals and seized over GH¢1.2 million in a major operation targeting illegal foreign exchange trading across Accra.

Addressing journalists at the CID Headquarters, Director-General Commissioner Lydia Yaako Donkor said the exercise was carried out in partnership with the Bank of Ghana at key locations including Tudu, Circle, the Airport enclave, and Cantonments on Tuesday, December 9, 2025.

According to her, the initial operation, conducted at dawn by CID operatives and Bank of Ghana officials acting on intelligence, resulted in the arrest of 29 suspects of various nationalities—Togolese, Beninois, Nigerians, and Ghanaians. A second operation, carried out an hour later, led to an additional 12 arrests.

The total cash recovered included GH¢1,266,770, 100,000 CFA francs, 3,383,570 Nigerian naira (with 1,266,770 naira stored electronically on a Moneypoint machine), and $5,105.

“All cash exhibits have been secured and will be forwarded to the Bank of Ghana for safekeeping as investigations progress. The suspects will subsequently be charged and arraigned,” Ms. Donkor stated.

She also revealed that a previous operation on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle resulted in 28 arrests. Those suspects were granted police enquiry bail by the Accra Circuit Court.

“In total, 90 suspects have been picked up since this operation began in August 2025. Thirteen of them have already been charged and brought before the Accra Circuit Court,” she added.

The CID chief emphasised that the crackdown is part of a broader national campaign to sanitise the foreign exchange market and ensure compliance with Ghana’s financial laws.

On behalf of the Inspector-General of Police, Christian Tetteh Yohuno, Ms. Donkor thanked the Bank of Ghana for its continued support and reiterated warnings to illegal forex traders.

“We urge all persons engaged in this illicit activity to desist immediately. Offenders will be arrested and prosecuted. We also advise the general public to rely on banks for all forex transactions,” she said.

The Ghana Police Service says it looks forward to deepening its cooperation with the Bank of Ghana as efforts to clamp down on illegal forex dealings continue nationwide.

Source: Theghanareport.com