The Criminal Investigations Department (CID) of the Ghana Police Service, in collaboration with the Bank of Ghana (BoG), has arrested 41 individuals during a coordinated operation targeting illegal forex trading hotspots across Accra.
The arrests were made earlier today following what authorities described as credible intelligence.
Commissioner of Police and Director-General of the CID, Yaako Donkor, confirmed the development in an official statement.
“Earlier today, a joint team from the CID Operations Unit and the Bank of Ghana, acting on credible intelligence, conducted a major operation at illegal forex exchange hotspots across Accra including Tudu, Circle, Airport, and Osu.
“A total of 41 suspects, comprising Ghanaians and foreign nationals, were arrested for engaging in unauthorized foreign exchange trading,” he said.
According to the CID, the suspects were picked up during simultaneous swoops in areas known for open street forex dealings.
The operation forms part of an ongoing nationwide effort to clamp down on black market currency activities believed to be contributing to exchange rate instability.
Donkor urged the public to avoid unregulated forex dealers and strictly adhere to lawful channels.
“We urge the public to transact all foreign exchange business through licensed banks and authorized institutions only,” he emphasized.
The arrested individuals are expected to be screened and processed, with some likely to face prosecution for breaching Ghana’s foreign exchange regulations.
