13 Arrested In Illegal Forex Trading Crackdown

On August 1, 2024, 7:30 AM

Thirteen persons have been arrested in a joint national security task force operation for engaging in the illegal exchange of foreign currencies.

The task force, comprising personnel from the Ghana Police Service, the National Intelligence Bureau, and the National Fusion Centre of the Ministry of National Security, undertook the operation on July 26, 2024, in a bid to curb further depreciation of the cedi and regulate forex trading.

The operations, which were conducted around Osu and Tudu, resulted in the arrest of the 13 offenders and the retrieval of various sums of money including $17,840, CUSD 1,450, 515,000 Naira and CFA 1,167,000.

Additionally, GH¢419,685, €230, and 50 Egyptian pounds were also retrieved.

The suspects and exhibits have been handed over to the police for investigation and prosecution.

Sources indicate that the operation would be conducted across the country in the coming days, and is expected to help the Bank of Ghana regulate forex trading.