The Criminal Investigations Department (CID) of the Ghana Police Service, in collaboration with the Bank of Ghana (BoG), on Tuesday, December 9, 2025, arrested 41 persons during a major operation targeting illegal foreign exchange trading, popularly known as black market forex, in parts of Accra.
The joint team carried out simultaneous swoops at known hotspots, including Tudu, Circle Airport, and Osu. An initial raid netted 29 suspects, including Ghanaians and foreign nationals from Togo, Benin, and Nigeria. A follow-up operation about an hour later led to the arrest of 12 more persons, bringing the day’s total to 41.
Addressing journalists at the CID headquarters, Director-General of CID, Ms Lydia Yaako Donkor, said large sums of money were recovered during the exercise. The seized cash included GH¢1,266,770 in Ghana Cedis, 100,000 CFA Francs, 3,383,570 Nigerian Naira (including 1,266,770 Naira in e-cash on a Money Points machine), and US$5,105.
“All cash exhibits have been secured and forwarded to the Bank of Ghana for safekeeping while investigations continue,” Ms Donkor said, adding that the suspects will soon be arraigned.
She emphasised that Tuesday’s operation forms part of an intensified nationwide campaign that began in August 2025. She disclosed that a total of 90 persons have been arrested in similar raids. Thirteen of whom have already been formally charged and are facing trial at the Accra Circuit Court.
A previous raid on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle resulted in 28 arrests. The suspects were granted police inquiry bail after appearing before the Circuit Court.
Ms Donkor, speaking on behalf of the Inspector-General of Police, Mr Christian Tetteh Yohuno, commended the Bank of Ghana for its continued support and described the partnership as key to the success of the crackdown.
She issued a strong warning to persons still engaged in illegal forex trading to desist immediately, stressing that anyone caught will be arrested and prosecuted. The public has also been urged to conduct all foreign exchange transactions only through authorised banks and forex bureaus.