Ghana Steps Up Crackdown On Illegal Forex Trading As CID Arrests 41 In Accra Sweep

Ghana’s Criminal Investigation Department is tightening the noose around unlicensed foreign exchange dealers, rounding up dozens of suspects including Nigerians and seizing huge sums in a sweeping operation across Accra.

At a press briefing on Tuesday, December 9, 2025, CID Director-General COP Lydia Yaako Donkor laid out the details of the coordinated raid conducted alongside the Bank of Ghana. The team zeroed in on familiar hotspots Tudu, Circle, the Airport enclave, and Cantonments launching the operation in the early hours.

The first wave of arrests netted 29 suspects, a mix of Togolese, Beninois, Nigerians, and Ghanaians. About an hour later, a second swoop added 12 more, bringing the day’s tally to 41 arrests.

Officers also intercepted substantial cash stashed in various currencies. COP Donkor revealed the haul:

• GH¢1,266,770

• 100,000 CFA francs

• ₦3,383,570 (including ₦1,266,770 stored digitally on a Moneypoint device)

• $5,105

All funds, she noted, have been secured and will be handed over to the Bank of Ghana pending further investigations. The suspects are expected to face charges in court once inquiries are complete.

This latest sweep is part of an ongoing national campaign to clean up Ghana’s forex market. COP Donkor recalled earlier enforcement on November 20, 2025, which resulted in 28 arrests around Osu Oxford Street and the Kwame Nkrumah Circle enclave. Those suspects were later granted police enquiry bail by the Accra Circuit Court.

Since the broader operation kicked off in August 2025, a total of 90 suspects have been picked up nationwide, with 13 already charged and arraigned.

Speaking for the Inspector-General of Police, Christian Tetteh Yohuno, COP Donkor thanked the Bank of Ghana for its steady cooperation and sounded a clear warning to unlicensed currency traders. Anyone operating outside the law, she stressed, should expect arrest, prosecution, and seizure of funds. The public was urged to conduct all forex transactions through licensed banks.

She added that the enforcement will spread beyond Accra as authorities push to ensure compliance across all regions — a message meant to leave illegal traders with no illusions: the crackdown is far from over.