A joint operation conducted by the Criminal Investigation Department (CID) of the Ghana Police Service and the Bank of Ghana on December 9 has led to the arrest of 41 suspects engaged in illegal foreign exchange trading across major parts of Accra.
The suspects, comprising Ghanaians and nationals of Togo, Benin and Niger, were picked up at Tudu, Kwame Nkrumah Circle, Airport, and Osu. The operation also resulted in the seizure of significant amounts of Ghana cedis and foreign currencies.
Recovered cash included GHS 1,266,770; CFA 100,100,000; NGN 3,383,570 (including ₦1,266,770 on an e-cash device); and USD 5,105, the CID reported.
The latest arrests follow a similar operation on 20 November 2025 at Oxford Street, Osu and Kwame Nkrumah Circle, where 28 persons were apprehended. Ninety suspects have been arrested nationwide since the enforcement exercise began in August, with 13 already charged and brought before the Accra Circuit Court.
In the statement, the CID said all seized cash exhibits have been forwarded to the Bank of Ghana for safekeeping while investigations and court processes continue.
The Police Service cautioned persons engaged in illegal forex activities to obtain the required license or face arrest and prosecution. The public has also been urged to conduct all forex transactions only through authorised banks and licensed institutions.
The Ghana Police Service expressed appreciation to the Bank of Ghana for its collaboration and indicated that operations will continue to intensify to curb illegal forex trading. The release was signed by Chief Inspector Brigitte Babanawo, Public Relations Officer of the CID.
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