police, Bank of Ghana Arrest 41 for Illegal Forex Trading in Accra
CID Director-General, COP Lydia Yaako Donkor
Accra, Ghana- The Criminal Investigation Department (CID) of the Ghana Police Service, together with the Bank of Ghana (BoG), has arrested 41 people for illegal foreign exchange trading in parts of Accra. The CID Director-General, COP Lydia Yaako Donkor, said the operation was based on intelligence gathered by the police and the central bank.
She told journalists that the team carried out the joint exercise on Tuesday, December 9, at known forex hotspots in Tudu, Circle, Airport, and Osu. “These places have become regular sites for illegal forex trade,” COP Donkor said.
She said 29 suspects were first picked up, including Ghanaians, Togolese, Nigerians, and Beninois. About an hour later, the team went back and arrested 12 more suspects, bringing the total to 41.
Police recovered the following amounts ₵1,266,770 (Ghana cedis), ₣100,000 (CFA francs), ₦3,383,570 (Nigerian naira), including ₦1,266,770 on e-cash “Money Point” systems and US$5,105 (U.S. dollars). All the money has been secured and sent to the Bank of Ghana for safekeeping while investigations continue.
COP Donkor said a similar exercise was held on November 20, 2025, at Osu and Kwame Nkrumah Circle, where 28 people were arrested. Those suspects were later granted police inquiry bail by the Accra Circuit Court.
Since the operation began in August 2025, police have arrested 90 suspects for illegal forex trading. Out of this number, 13 have been charged and sent to court. “All seized cash has been handed over to the Bank of Ghana as we continue investigations,” she said.
COP Donkor warned the public to stop trading in foreign currencies without a license. “Anyone found doing illegal forex business will be arrested and prosecuted,” she said. “We encourage everyone to use licensed banks and financial institutions for their foreign exchange needs.”
She thanked the Inspector-General of Police, Mr. Christian Tetteh Yohuno, and the Bank of Ghana for supporting the ongoing operations.
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