Accra Police Arrest 41 Forex Traders, Seize GH¢1.2m
The Criminal Investigations Department (CID) has apprehended 41 individuals and seized over GH₵1.2 million in a sweeping operation targeting illegal foreign exchange (forex) activities in Accra.
Commissioner of Police Lydia Yaako Donkor, Director-General of the CID, revealed the arrests during a press briefing on Tuesday, December 9, 2025. The operation, a collaborative effort with the Bank of Ghana, focused on known hotspots including Tudu, Circle, the Airport area, and Cantonments.
“In total, 29 suspects, including nationals from Togo, Benin, Nigeria, and Ghana, were arrested,” COP Donkor stated. She explained that the initial arrests, made in the early hours of Tuesday, were followed by a second operation an hour later, resulting in the apprehension of 12 more suspects.
The recovered cash included GH₵1,266,770, 100,000 CFA francs, and 3,383,570 Nigerian naira. Significantly, GH₵1,266,770 worth of naira was found as e-cash on a Moneypoint machine during the operation.
“All cash exhibits have been secured and will be forwarded to the Bank of Ghana for safekeeping while investigations continue. The suspects will subsequently be charged and brought before the court,” she assured.
This latest crackdown builds on previous enforcement efforts. On November 20, 2025, a similar operation at Osu Oxford Street and Kwame Nkrumah Circle near GCB led to 28 arrests, with those suspects granted police enquiry bail by the Accra Circuit Court.
“To date, a total of 90 suspects have been arrested since this operation began in August 2025, and 13 have already been formally charged and are appearing before the Accra Circuit Court,” COP Donkor added.
The nationwide effort, she emphasized, aims to sanitize the forex market and guarantee adherence to Ghana’s financial laws and regulations. The CID expressed gratitude to the Bank of Ghana for its continued support, with Christian Tetteh Yohuno speaking on behalf of the Inspector-General of Police.
“We urge individuals involved in this illegal trade to cease their activities immediately, as offenders will face arrest and prosecution. We advise the public to exclusively utilize banks for all their forex transactions,” COP Donkor warned.
The Ghana Police Service anticipates even closer collaboration with the Bank of Ghana to intensify efforts in clamping down on unlawful forex trading. COP Donkor further warned that the operation will extend beyond Accra, targeting forex traders operating without the necessary Bank of Ghana licenses, and encouraged anyone interested in legitimate forex business to obtain the required licensing.
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