By Comfort Asemota
Ghana’s Criminal Investigation Department (CID) has intensified its nationwide crackdown on illegal forex trading, arresting 41 suspects—including Nigerians, Togolese, Beninois, and Ghanaians—in a major operation across Accra. Significant amounts of cash in multiple currencies were also seized.
At a press briefing on Tuesday, December 9, 2025, in Accra, CID Director-General COP Lydia Yaako Donkor announced that the coordinated swoop was carried out in partnership with the Bank of Ghana as part of efforts to sanitize the country’s foreign exchange market.
According to COP Donkor, the joint team targeted well-known illegal forex trading hotspots such as Tudu, Circle, the Airport enclave, and Cantonments. The early-morning operation led to the arrest of 29 unlicensed forex traders, followed by a second round that netted 12 more suspects, bringing the total number of arrests to 41 in a single day.
Large Sums of Cash Recovered
The police recovered substantial amounts of cash in various currencies, including:
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GH¢1,266,770
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100,000 CFA francs
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3,383,570 Nigerian naira (including 1,266,770 naira stored electronically on a Moneypoint machine)
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US$5,105
“All cash exhibits have been secured and will be forwarded to the Bank of Ghana for safekeeping as investigations continue,” COP Donkor said, noting that all suspects will be processed for court.
Earlier Operations and Total Arrests
This latest operation follows similar raids conducted on November 20, 2025, at Osu Oxford Street and the Kwame Nkrumah Circle enclave, where 28 suspects were arrested and subsequently granted police enquiry bail by the Accra Circuit Court.
Since the nationwide enforcement campaign began in August 2025, the CID has arrested a total of 90 individuals, with 13 already charged and arraigned before the Accra Circuit Court.
Police Warn Unlicensed Forex Traders
Describing the initiative as part of a broader national campaign to rid Ghana’s forex market of unlicensed operators, COP Donkor—speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno—thanked the Bank of Ghana for its collaboration.
She issued a strong warning:
“We urge all individuals involved in illegal forex trading to desist immediately. Offenders will be arrested and prosecuted. We also advise the general public to conduct all forex transactions through licensed banks.”
COP Donkor added that the intensified crackdown will extend beyond Accra, stressing that any foreign exchange dealer operating without a Bank of Ghana license risks arrest as authorities move to enforce compliance across all regions.
