The Criminal Investigation Department (CID) has arrested 41 suspects and recovered more than GH¢1.2 million in cash during an operation targeting illegal foreign exchange activities across Accra.

The Director-General of the CID, Commissioner of Police Lydia Yaako Donkor at a press briefing said the arrests were made in a joint operation with the Bank of Ghana at hotspots including Tudu, Circle, the Airport area and Cantonments all in Accra on Tuesday, December 9, 2025.

“In total, 29 suspects, including Togolese, Beninois, Nigerians and Ghanaians, were arrested,” COP Donkor said during the press briefing.

She explained that the operation, carried out in the early hours of Tuesday by a joint team from the CID Operations Unit and Bank of Ghana officials acting on intelligence, initially resulted in the arrest of 29 suspects. A follow-up operation an hour later led to the arrest of 12 more.

The CID boss outlined the cash recovered: 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 stated.

COP Donkor also revealed that a previous operation was carried out on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle near GCB, resulting in 28 arrests. Those suspects were 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,” the CID Director-General said.

She added that the operations form part of a nationwide effort to sanitise the foreign exchange market and ensure compliance with Ghana’s laws and regulations.

Speaking on behalf of the Inspector-General of Police, Christian Tetteh Yohuno, COP Donkor thanked the leadership of the Bank of Ghana for their support.

“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 warned.

The Ghana Police Service says it expects deeper collaboration with the Bank of Ghana as efforts intensify to clamp down on illegal foreign exchange activities.

She warned forex traders operating without Bank of Ghana licences that they will be arrested as the ongoing crackdown moves beyond Accra.

She said the operation against unlawful foreign exchange trading would continue in all regions and therefore urged those interested in engaging in lawful business to approach the Bank of Ghana for licence.