Story by Eugene Nyarko Jnr. | Accra | December 9, 2025
The Ghana Police Service, in collaboration with the Bank of Ghana (BoG), has intensified its nationwide crackdown on illegal foreign exchange trading, arresting 41 suspects in a major joint operation carried out Tuesday morning in Accra.
Addressing the media at the CID Headquarters in Accra, Commissioner of Police (COP) Lydia Yaako Donkor, Director-General of the Criminal Investigations Department (CID), said the coordinated operation is part of ongoing efforts to sanitize the forex market, ensure compliance with national financial laws, and promote economic stability.
According to COP Donkor, the early-morning swoop involved personnel from the CID Operations Unit and officials from the BoG, acting on intelligence gathered over several weeks. The team targeted well-known illegal forex hotspots, including Tudu, Kwame Nkrumah Circle, Airport, and Osu.
The operation led to the arrest of 29 suspects—comprising Togolese, Beninese, Nigerian, and Ghanaian nationals—and the recovery of significant sums of money. The seized cash included GH₵1,266,770, 100,000 CFA, ₦3,383,570 (of which ₦1,266,770 was found on a money point machine), and US$5,105.
COP Donkor further disclosed that a follow-up operation conducted about an hour later at the same locations resulted in an additional 12 arrests, bringing Tuesday’s total to 41 suspects. All seized cash has been secured and will be submitted to the Bank of Ghana for safekeeping as investigations proceed.
She noted that this week’s operation follows a similar enforcement exercise conducted on November 20, 2025, during which 20 suspects were arrested at Osu Oxford Street and the Kwame Nkrumah Circle area. Those suspects were subsequently placed before the Accra Circuit Court and granted police inquiry bail.
Since the joint enforcement operations began in August 2025, a total of 90 suspects have been arrested, out of which 13 have already been charged and arraigned before the Accra Circuit Court. All cash exhibits from the operations have been handed over to the central bank as investigations continue.
COP Donkor expressed appreciation on behalf of the Inspector-General of Police, Dr. Christian Tetteh Yohuno, to the leadership and staff of the Bank of Ghana for their collaboration and sustained support.
She cautioned individuals engaged in unauthorized forex trading to desist immediately, warning that the police will continue to pursue and prosecute offenders. The public was also advised to conduct all foreign exchange transactions through licensed banks and authorized dealers.
The Ghana Police Service says it anticipates even stronger collaboration with the Bank of Ghana as efforts intensify to eliminate illegal forex activities across the country.
