By Gifty Amofa
Accra, Dec. 10, GNA – A joint operation by the Criminal Investigations Department (CID) of the Ghana Police Service and the Bank of Ghana (BoG) has led to the arrest of 41 suspects in the Accra Metropolis as part of an intensified clampdown on unauthorised foreign exchange trading.
The exercise forms part of a nationwide enforcement campaign to sanitise the forex market, strengthen economic stability, and ensure compliance with Ghana’s financial laws.
Commissioner of Police (COP) Lydia Yaako Donkor, Director-General of the CID, said in a news brief that the first swoop arrested 29 suspects, comprising Togolese, Beninois, Nigerians and Ghanaians.
A follow-up operation an hour later picked up an additional 12 suspects, bringing the total to 41.
She said teams from the CID Operations Unit and the BoG, acting on sustained intelligence, targeted key forex hotspots including Tudu, Circle, Airport and Osu.
The team retrieved assorted currencies believed to be proceeds from unlicensed trade, including GH₵1,266,770, 100,000 CFA, ₦3,383,570, ₦1,266,770 held as e-cash on a Money Point device, and US$5,105.
The seized monies have been secured and forwarded to the BoG for safekeeping, pending prosecution.
COP Donkor said a similar operation on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle (near GCB) resulted in 28 arrests.
The suspects were granted police inquiry bail and were facing trial.
She noted that since the nationwide exercise began in August 2025, a total of 90 suspects had been arrested, with 13 arraigned so far.
The CID Director-General stressed that the Police were not against forex trading but against persons operating without BoG authorisation.
She urged interested individuals to secure the necessary licence before engaging in the business.
“The Police have cautioned all persons involved in illegal forex operations to desist immediately,” she said, adding: “Once we find you and it is illegal, we will come after you.”
The Police Service advised the public to conduct all forex transactions through licensed banks and approved institutions.
COP Donkor expressed appreciation to the Bank of Ghana for its continued collaboration, saying the joint enforcement operations would continue nationwide to protect Ghana’s financial ecosystem.
GNA
Edited by Agnes Boye-Doe