Police Clamp Down on ‘Abokyi’ Forex Traders in Accra: 41 Arrested, GH¢1.2 million Seized
The Ghana Police Service, working in collaboration with the Bank of Ghana (BoG), has intensified its crackdown on illegal foreign exchange trading in Accra. A joint operation conducted on December 9, 2025, led to the arrest of 41 suspects and the seizure of more than GH¢1.2 million in cash.
Damian Owusu 
The Ghana Police Service, working in collaboration with the Bank of Ghana (BoG), has intensified its crackdown on illegal foreign exchange trading in Accra. A joint operation conducted on December 9, 2025, led to the arrest of 41 suspects and the seizure of more than GH¢1.2 million in cash.
Details of the Operation
The raids were carried out by the Criminal Investigation Department (CID) Operations Unit and BoG officials. Hotspots targeted included Tudu, Circle, the Airport area, and Cantonments. Initial arrests netted 29 suspects, including Togolese, Beninois, Nigerians, and Ghanaians.
A follow-up operation an hour later led to the arrest of 12 more individuals.
Cash recovered included:
GH¢1,266,770 in Ghana cedis
100,000 CFA francs
3,383,570 Nigerian naira (including e-cash on a Moneypoint machine)
$5,105 in US dollars
CID Director-General COP Lydia Yaako Donkor explained that the operation was part of a nationwide effort to sanitize the forex market and enforce compliance with Ghana’s financial laws. Since the crackdown began in August 2025, a total of 90 suspects have been arrested, with 13 already charged and brought before the Accra Circuit Court.
A previous raid on November 20, 2025, at Osu Oxford Street and Kwame Nkrumah Circle resulted in 28 arrests, though those suspects were later granted police enquiry bail.
COP Donkor emphasized that all seized cash exhibits have been secured and will be forwarded to the Bank of Ghana for safekeeping as investigations continue. She warned: “We 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.”
The crackdown is part of efforts to stabilize Ghana’s forex market amid rising concerns about black-market trading. Authorities have signaled that operations will extend beyond Accra to other regions, targeting unlicensed traders nationwide. The move is expected to strengthen regulatory oversight and protect the integrity of Ghana’s financial system.
