The Criminal Investigation Department (CID) has intensified its campaign against unauthorized foreign exchange trading, arresting 41 individuals and confiscating over GH¢1.2 million in cash and foreign currencies
At a press briefing in Accra on Tuesday, December 9, CID Director-General COP Lydia Yaako Donkor announced that a joint operation with the Bank of Ghana targeted known forex hotspots, including Tudu, Circle, the Airport area, and Cantonments.
The morning raid resulted in the arrest of 29 suspects comprising Ghanaians, Togolese, Beninois, and Nigerians. Shortly after, a second sweep netted another 12 individuals, bringing the total arrests to 41.
Authorities seized large sums in multiple currencies: GH¢1,266,770, 100,000 CFA francs, 3,383,570 Nigerian naira (including 1,266,770 naira held as e-cash on a Moneypoint device), and $5,105. All confiscated funds are secured and will be handed over to the Bank of Ghana pending ongoing investigations. The suspects will face court charges.
These arrests followed a similar crackdown on November 20, 2025, when 28 people were detained along Osu Oxford Street and Kwame Nkrumah Circle. Since August 2025, a total of 90 individuals have been arrested nationwide, with 13 charged in the Accra Circuit Court.
COP Donkor emphasized that enforcement efforts will continue nationwide to clean up Ghana’s forex market and urge illicit traders to cease their activities. She credited the Bank of Ghana for its collaboration and advised the public to conduct forex transactions only through licensed banks to avoid prosecution.
The crackdown will extend beyond the capital, with warnings that unlicensed dealers face arrest if they operate without Bank of Ghana licensing.
Story by : Mercy Addai Turkson #ahotoronline.com