CID Arrests 41 More Suspects, Recovers Over GH¢1.2 Million in Crackdown on Illegal Forex Trade in Accra

The Criminal Investigation Department (CID) has intensified its nationwide crackdown on illegal foreign exchange activities, arresting 41 suspects and recovering more than GH¢1.2 million during a coordinated operation across Accra.

CID Director-General COP Lydia Yaako Donkor revealed at a press briefing that the December 9, 2025 operation—conducted jointly with the Bank of Ghana—targeted illegal forex hotspots including Tudu, Circle, the Airport area, and Cantonments.

How the Operation Unfolded

The initial early-morning sweep led to the arrest of 29 suspects, comprising Ghanaians, Togolese, Nigerians, and Beninois nationals.

A follow-up operation an hour later resulted in 12 additional arrests, bringing the total to 41.

Cash Recovered

The team seized significant amounts of cash in multiple currencies:

GH¢1,266,770 100,000 CFA francs ₦3,383,570 Nigerian naira (including ₦1,266,770 in e-cash on a Moneypoint machine) $5,105 USD

COP Donkor confirmed that all cash exhibits have been secured and will be transferred to the Bank of Ghana for safekeeping as investigations continue.

Previous Raids and Total Arrests

COP Donkor further disclosed that an earlier operation on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle near GCB, resulted in 28 arrests. Those suspects were later granted police enquiry bail by the Accra Circuit Court.

“In all, a total of 90 suspects have so far been arrested since this operation commenced in August 2025. Out of this number, 13 have been charged and brought before the Accra Circuit Court,” she added.

Next Steps

Investigations are ongoing, and the newly arrested suspects will be processed for court. Authorities say the crackdown forms part of efforts to stabilise the cedi and dismantle illegal forex networks influencing exchange rate volatility.