90 Illegal Forex Traders Arrested

COP Lydia Yaako Donkor

 

A total of 90 suspected illegal forex traders have been arrested by personnel of the Ghana Police Service, of which 13 have been charged and brought before the Accra Circuit Court for prosecution.

Cash exhibits retrieved during the operations, which began in August this year, have been secured and forwarded to the Bank of Ghana for safekeeping as investigations continue.

Addressing journalists at a brief press conference at the Police Headquarters, the Director-General of the Criminal Investigation Department (CID), Commissioner of Police (COP) Lydia Yaako Donkor, said the suspects are not only Ghanaian nationals, but also Nigerians, Togolese, Beninois, among other African nationals, and are deeply engaged in illegal forex trading in the country.

She said the operation, a collaboration between the CID and the Bank of Ghana, targeting illegal foreign exchange activities in Accra, is part of a nationwide effort to clean up the foreign exchange market, promote economic stability, and ensure that all forex activities comply with Ghana’s laws and regulations.

COP Yaako Donkor also revealed that the operation conducted a criminal investigation yesterday, Tuesday, December 9, at major hotspots in targeted areas of Accra, including Tudu, Circle, Airport, and Osu, and arrested some 29 suspects, recovering GH¢1,266,770.

“These locations were identified as consistent sites for illegal forex trading. In total, 29 suspects, including Togolese, Beninois, Nigerians, and Ghanaians, were arrested. About an hour after the earlier operation, the team revisited the said locations and arrested 12 more suspects, bringing the total arrests for today, 41,” she added.

COP Yaako Donkor also stated that a similar operation was conducted on November 20, 2025, at 11 a.m. at Osu Oxford Street and Kwame Nkrumah Circle near GCB, where many of the suspects were arrested for engaging in illegal forex trading.

“I urge Ghanaians who trade in forex to do so with the banks rather than these illegal forex traders, as the police are bent on cracking them down,” she added.

 

BY Prince Fiifi Yorke

Read Full Story