The Criminal Investigation Department (CID) has escalated its efforts against unlicensed foreign exchange trading, apprehending numerous suspects and seizing substantial amounts of money in a coordinated operation throughout Accra.
During a press conference in Accra on Tuesday, December 9, the CID Director-General, COP Lydia Yaako Donkor, elaborated on the recent operation conducted in collaboration with the Bank of Ghana. She stated that the joint task force focused on identified hotspots—Tudu, Circle, the Airport enclave, and Cantonments—on Tuesday, December 9, 2025.
As reported by her, the operation commenced early in the morning with the detention of 29 individuals involved in illegal forex trading. “In total, 29 suspects, comprising Togolese, Beninois, Nigerians, and Ghanaians, were apprehended,” she informed the press. A subsequent round of operations, executed approximately an hour later, resulted in the capture of an additional 12 suspects, raising the total number of arrests for the day to 41.
The police also seized large quantities of cash in various currencies. COP Donkor detailed the confiscated amounts, which included GH¢1,266,770 in Ghana cedis, 100,000 CFA francs, 3,383,570 Nigerian naira (of which 1,266,770 naira was held as e-cash on a Moneypoint machine), and $5,105. She remarked, “All cash exhibits have been secured and will be sent to the Bank of Ghana for safekeeping as investigations proceed, after which the suspects will face charges and be presented in court.”
The arrests made this week follow similar enforcement actions taken earlier in the year. COP Donkor revealed that an operation on November 20, 2025, at Osu Oxford Street and the Kwame Nkrumah Circle area led to 28 arrests. Those suspects were subsequently granted police enquiry bail by the Accra Circuit Court.
Since the nationwide initiative commenced in August 2025, she noted, “In total, 90 suspects have been arrested to date… Of this number, 13 have been charged and brought before the Accra Circuit Court.”
Describing the initiative as part of a larger national effort to regulate Ghana’s foreign exchange market, COP Donkor reiterated that enforcement would proceed with even greater vigour.
Speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno, she expressed gratitude to the Bank of Ghana for its partnership and issued a caution to unlicensed traders.
“We also encourage all individuals engaged in this unlawful trade to refrain from such activities, as violators will face arrest and prosecution. We further recommend that the general public conduct all their foreign exchange transactions through the banks,” she warned.
She also stressed that the crackdown would not be limited to the capital. Unauthorised foreign exchange operators, she cautioned, face the risk of arrest if they do not secure a Bank of Ghana license. The police anticipate ongoing collaboration with the central bank as they work to enforce compliance throughout all regions.
