Tudu to Osu Under Fire: Illegal Forex Dealers Crushed in Joint Police Operation – 41 Arrested and Currently in Police Custody

Anthony Amponsah December 11, 2025

The Criminal Investigation Department (CID) of the Ghana Police Service, working closely with the Bank of Ghana, has intensified its nationwide crackdown on illegal foreign exchange operations—an enforcement campaign that continues to gather momentum as the festive season approaches.

In the latest joint operation conducted on December 9, 2025, security teams stormed key hotspots in Accra including Tudu, Kwame Nkrumah Circle, Airport, and Osu. The coordinated swoop led to the arrest of forty-one suspects comprising Ghanaians, Togolese, Beninese, and Nigeriens believed to be deeply involved in unlicensed forex trading.

Authorities retrieved substantial sums during the raid, including GHS 1,266,770; CFA 100,100,000; NGN 3,383,570; and USD 5,105. A portion of the seized naira was discovered stored on an electronic cash device, underscoring how illegal operators are increasingly adopting digital channels to evade regulation.

This latest action follows a similar operation on November 20, 2025, at Osu Oxford Street and Circle, where 28 individuals were detained. Those suspects were granted police inquiry bail, while investigators continue compiling evidence for prosecution.

Since the enforcement drive began in August 2025, a total of 90 people have been arrested nationwide. Thirteen have already been charged and presented before the Accra Circuit Court, with additional cases still under thorough investigation.

Police confirm that all cash exhibits have been secured and handed over to the Bank of Ghana for safekeeping as the suspects are processed for court.

The security agencies are urging all persons engaged in forex-related activities to secure appropriate licensing, warning that enforcement will remain uncompromising. They also encourage the public to transact foreign exchange strictly through authorized banks and regulated institutions.

The CID acknowledged the Bank of Ghana for its partnership, emphasizing that continued collaboration is central to eliminating illegal forex operations that undermine financial stability.