The Criminal Investigation Department (CID) in Ghana has intensified its crackdown on unlicensed foreign exchange trading, arresting dozens of suspects, including Nigerians and confiscating significant sums of money in a coordinated operation across Accra.

 

 

 

At a press briefing in Accra on Tuesday, December 9, 2025, the CID Director-General, COP Lydia Yaako Donkor, detailed the latest swoop carried out in partnership with the Bank of Ghana.

 

 

 

 

She said the joint team targeted known hotspots—Tudu, Circle, the Airport enclave, and Cantonments—on Tuesday, December 9, 2025

 

 

 

 

According to her, the exercise began in the early morning with the arrest of 29 individuals engaged in illegal forex trading. “In total, 29 suspects, including Togolese, Beninois, Nigerians and Ghanaians, were arrested,” she told journalists.

 

 

 

A second round of operations, conducted about an hour later, netted an additional 12 suspects, bringing the day’s total to 41.

 

Police also recovered large volumes of cash in multiple currencies.

 

 

 

COP Donkor outlined the seizures, which included GH¢1,266,770 in Ghana cedis, 100,000 CFA francs, 3,383,570 Nigerian naira (including 1,266,770 naira held as e-cash on a Moneypoint machine), and $5,105.

 

 

 

“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 put before the court,” she added.

 

 

 

 

This week’s arrests follow similar enforcement actions carried out earlier in the year. COP Donkor disclosed that an operation on November 20, 2025, at Osu Oxford Street and the Kwame Nkrumah Circle enclave resulted in 28 arrests.

 

 

 

Those suspects were later granted police enquiry bail by the Accra Circuit Court.

 

 

 

Since the nationwide exercise began in August 2025, she said, “In all, a total of 90 suspects have so far been arrested… Out of this number, 13 have been charged and brought before the Accra Circuit Court.”

 

Describing the effort as part of a broader national campaign to sanitise Ghana’s forex space, COP Donkor reaffirmed that enforcement would continue with even greater intensity.

 

Speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno, she expressed appreciation to the Bank of Ghana for its collaboration and issued a warning to unlicensed traders.

 

“We also urge all individuals involved in this illegal trade to desist, as offenders will be arrested and prosecuted. We further advise the general public to deal with the banks for all their forex transactions,” she cautioned.

 

She further emphasised that the crackdown would extend beyond the capital. Unauthorised foreign exchange dealers, she warned, risk arrest if they fail to obtain a Bank of Ghana licence. The police expect continued cooperation from the central bank as they move to enforce compliance across all regions