The Criminal Investigation Department (CID) has intensified its nationwide clampdown on illegal foreign exchange trading, arresting 41 suspects and seizing significant amounts of cash during a coordinated swoop across Accra.
Addressing the media on Tuesday, December 9, 2025, the CID Director-General, COP Lydia Yaako Donkor, revealed that the latest operation—carried out in collaboration with the Bank of Ghana—targeted key hotspots including Tudu, Circle, the Airport enclave, and Cantonments.
She said the exercise began at dawn, resulting in the arrest of 29 individuals engaged in unauthorised forex trading. “In total, 29 suspects, including Togolese, Beninois, Nigerians, and Ghanaians, were arrested,” COP Donkor reported. A second phase of the operation, conducted an hour later, saw 12 more suspects apprehended, bringing the total to 41.
Significant amounts of cash in several currencies were seized. COP Donkor listed the items recovered, which 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 device)
- $5,105 USD
“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 brought before the court,” she stated.
This operation follows similar enforcement actions earlier in the year. An exercise on November 20, 2025, at Osu Oxford Street and the Kwame Nkrumah Circle area resulted in 28 arrests, with those suspects later granted police enquiry bail by the Accra Circuit Court.
Updating the public on the broader campaign, COP Donkor noted: “Since August 2025, a total of 90 suspects have been arrested. Out of this number, 13 have been charged and arraigned before the Accra Circuit Court.”
She emphasized that the crackdown is part of a sustained national agenda to sanitise Ghana’s forex market. Speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno, COP Donkor thanked the Bank of Ghana for its support and issued a stern warning.
“We urge all individuals involved in this illegal trade to desist, as offenders will be arrested and prosecuted. We also advise the public to conduct all forex transactions through licensed banks,” she said.
The CID further announced plans to expand the enforcement campaign beyond Accra. Unlicensed forex traders across the regions have been cautioned to obtain proper Bank of Ghana authorization or risk arrest and prosecution.
