The Criminal Investigation Department (CID) has intensified its nationwide crackdown on illegal foreign exchange trading, arresting 41 suspects and seizing more than GH¢1.2 million in a coordinated operation across Accra.
At a press briefing on Tuesday, December 9, 2025, the CID Director-General, COP Lydia Yaako Donkor, said the exercise — conducted jointly with the Bank of Ghana — targeted major forex hotspots including Tudu, Circle, the Airport enclave and Cantonments.
She said the swoop began in the early hours of the morning, resulting in the arrest of 29 individuals engaged in unlicensed forex trading. “In total, 29 suspects, including Togolese, Beninois, Nigerians and Ghanaians, were arrested,” she stated.
A second round of operations, conducted about an hour later, netted an additional 12 suspects, bringing the total arrests for the day to 41.
Cash Seized
COP Donkor disclosed that large sums of money in different currencies were retrieved during the operation. The exhibits included:
- GH¢1,266,770
- 100,000 CFA francs
- ₦3,383,570 Nigerian naira (including ₦1,266,770 stored as e-cash on a Moneypoint machine)
- US$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 court,” she said.
Earlier Operations
This week’s arrests add to a growing list of enforcement actions targeting illegal currency dealers. An operation on November 20, 2025, at Osu Oxford Street and the Kwame Nkrumah Circle enclave resulted in 28 arrests; those suspects were later granted police enquiry bail.
Since the nationwide exercise began in August 2025, COP Donkor revealed that 90 suspects have been arrested, with 13 already charged and arraigned before the Accra Circuit Court.
Warning to Unlicensed Dealers
Describing the initiative as part of a broader national campaign to sanitise the forex market, COP Donkor warned that the crackdown will intensify and extend beyond the capital.
“We 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.
Speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno, she thanked the Bank of Ghana for its collaboration and reaffirmed the police service’s commitment to enforce compliance nationwide.
