An operation targeting illicit foreign exchange transactions throughout Accra resulted in the arrest of 41 people and the recovery of approximately GH¢1.2 million in cash, according to the Criminal Investigation Department (CID).
The Director-General of the CID, Yaako Donkor, has officially confirmed the development in a statement.
According to her, the operation was conducted early today throughout Accra especially at hotspots areas like Tudu, Circle, Airport and Osu.
“Earlier today, a collaborative team from the CID Operations Unit and the Bank of Ghana, responding to reliable intelligence, executed a significant operation at unauthorized forex exchange locations throughout Accra, including Tudu, Circle, Airport, and Osu,” the statement read in part.
“A total of 41 individuals, including both Ghanaians and foreign nationals, were apprehended for their involvement in doing business without authorization from the Central Bank or any,” she stated.
The operation is part of a continuous national effort to suppress illicit currency activity thought to be causing exchange rate volatility.
The CID chief detailed the funds seized: GH¢1,266,770 in Ghanaian cedis, 100,000 CFA francs, 3,383,570 Nigerian naira (which includes 1,266,770 naira stored as e-cash on a Moneypoint machine), and $5,105.
On behalf of the Inspector-General of Police, Christian Tetteh Yohuno, COP Donkor expressed gratitude to the leadership of the Bank of Ghana for their support.
COP Donkor expressed gratitude to the leadership of the Bank of Ghana for their immense support.
She spoke on the behalf of the Inspector General of Ghana Police (IGP), Christian Tetteh Yohuno,
“We strongly encourage all individuals engaged in this unlawful trade to cease their activities, as those who violate the law will face arrest and prosecution. She cautioned, “We further advise the general public to conduct all their forex transactions through the banks.”
The Ghana Police Service anticipates enhanced cooperation with the Bank of Ghana as initiatives to combat illegal foreign exchange activities gain momentum.
She emphasized that the operation will extend beyond Accra, as the law enforcement agency plans to carry out its activities in all regions throughout Ghana.
She offered a crucial piece of advice to illegal forex traders, urging them to operate under the guidance of the Bank of Ghana to steer clear of potential repercussions.
