41 Arrested in Major Joint Operation Against Illegal Forex Trading

41 Arrested in Major Joint Operation Against Illegal Forex Trading

41 arrested in major joint operation against illegal forex trading in Accra by the Ghana Police service. The Ghana Police Service, through its Criminal Investigation Department (CID), in collaboration with the Bank of Ghana, has arrested 41 individuals in a coordinated crackdown on illegal forex trading.

The operation, carried out on December 9, 2025, targeted hotspots such as Tudu, Kwame Nkrumah Circle, Osu, and the Airport area in Accra.

According to a press release signed by Chief Inspector Brigitte Babanawo, Public Relations Officer of the CID, the suspects include Ghanaian nationals as well as foreign nationals from Togo, Benin, and Nigeria.

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During the raid, authorities recovered significant amounts of cash, including:

– GHS 1,266,770

– CFA 100,000

– NGN 3,383,570 (with NGN 1,267,570 found on an E-cash machine)

– USD 5,105

This operation follows a similar exercise conducted on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle, which led to the arrest of 28 individuals.

Since the beginning of the joint enforcement initiative in August 2025, a total of 90 suspects have been arrested.

Thirteen of them have already been charged and arraigned before the Accra Circuit Court.

The Ghana Police has forwarded all recovered cash to the Bank of Ghana for safekeeping and has assured the public that suspects are being processed for court.

The public has been advised to conduct foreign exchange transactions only through licensed financial institutions.

The Police Service emphasized that offenders will face prosecution and commended the Bank of Ghana for its support in the ongoing clampdown.

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The joint operation forms part of efforts to sanitize the forex market and strengthen public confidence in Ghana’s financial system.