Ghana’s Criminal Investigation Department (CID) has intensified its nationwide clampdown on unlicensed foreign exchange trading, arresting 41 suspects—including several Nigerians—and seizing large sums of money during coordinated raids across Accra.
At a press briefing on Tuesday, December 9, 2025, CID Director-General COP Lydia Yaako Donkor said the latest operation was carried out in collaboration with the Bank of Ghana, targeting major forex hotspots such as Tudu, Circle, the Airport enclave, and Cantonments.
According to her, the early-morning sweep led to the arrest of 29 individuals involved in black-market forex trading. The suspects include nationals of Togo, Benin, Nigeria, and Ghana. A second round of operations, conducted an hour later, resulted in 12 additional arrests, bringing the total to 41.
Police also confiscated large amounts of cash in different currencies. COP Donkor disclosed that officers seized GH¢1,266,770; 100,000 CFA francs; 3,383,570 Nigerian naira—of which 1,266,770 naira was stored electronically on a Moneypoint device—and $5,105.
“All cash exhibits have been secured and will be forwarded to the Bank of Ghana for safekeeping as investigations continue. The suspects will be charged and put before the court,” she said.
The CID boss noted that Tuesday’s operation follows similar raids carried out on November 20, 2025, at Osu Oxford Street and the Kwame Nkrumah Circle area, where 28 suspects were picked up and later granted police enquiry bail by the Accra Circuit Court.
Providing an update on the nationwide exercise, COP Donkor revealed that since the clampdown began in August 2025, a total of 90 suspects have been arrested, with 13 already facing charges before the Accra Circuit Court.
She stressed that the operation is part of a broader effort to sanitise Ghana’s forex market and curb illegal trading activities. Speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno, she thanked the Bank of Ghana for its support and warned that enforcement would become even more stringent.
“We urge all individuals engaged in this illegal trade to stop, as offenders will be arrested and prosecuted. We also advise the general public to patronise banks for all their forex transactions,” she cautioned.
COP Donkor added that the crackdown will continue across the regions, warning that unauthorised forex dealers risk arrest if they fail to obtain proper licensing from the Bank of Ghana.
