Police arrests 41, seize GH¢1.2m in forex crackdown
The Criminal Investigation Department (CID) has arrested 41 people and seized over GH¢1.2 million in cash during an operation aimed at curbing illegal foreign exchange activities throughout Accra.
The Director-General of the CID, Commissioner of Police Lydia Yaako Donkor, informed journalists at the CID Headquarters that the arrests were executed in collaboration with the Bank of Ghana at key locations such as Tudu, Circle, the Airport area, and Cantonments on Tuesday, December 9, 2025.
“In total, 29 suspects, including Togolese, Beninois, Nigerians and Ghanaians, were arrested,” Ms Donkor stated during the press briefing.
She elaborated that the operation, conducted in the early hours of Tuesday by a combined team from the CID’s Operations Unit and Bank of Ghana officials, based on intelligence, initially led to the apprehension of 29 suspects.
A subsequent operation an hour later resulted in the capture of 12 additional individuals.
The CID chief detailed the cash that was recovered: GH¢1,266,770 in Ghana cedis, 100,000 CFA francs, 3,383,570 Nigerian naira (which includes 1,266,770 naira stored as e-cash 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 continue, after which the suspects will be charged and put before the court,” she stated.
Ms. Donkor also disclosed that a prior operation took place on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle near GCB, leading to 28 arrests. The Accra Circuit Court granted police enquiry bail to those suspects.
“In all, a total of 90 suspects have so far been arrested since this operation commenced in August 2025. Out of this number, 13 have been charged and brought before the Accra Circuit Court,” the CID Director-General stated.
She further noted that these operations are part of a nationwide initiative aimed at sanitising the foreign exchange market and ensuring adherence to Ghana’s laws and regulations.
On behalf of the Inspector-General of Police, Christian Tetteh Yohuno, Ms. Donkor expressed gratitude to the leadership of the Bank of Ghana for their assistance.
“We also urge all individuals involved in this illegal trade to desist, as offenders will be arrested and prosecuted. We further advise the general public to deal with the banks for all their forex transactions,” she cautioned.
The Ghana Police Service anticipates enhanced collaboration with the Bank of Ghana as efforts to combat illegal foreign exchange activities intensify.