COP Lydia Yaako Donkor, the Director-General of the Criminal Investigation Department (CID) of the Ghana Police Service (GPS), has announced the arrest of 41 “abokyi” forex traders in a dawn swoop on Tuesday, December 9, 2025.
Speaking at a press briefing in Accra on Tuesday, December 9, COP Lydia Yaako Donkor detailed the swoop targeted known hotspots Tudu, Circle, the Airport enclave, and Cantonments and was conducted in partnership with the Bank of Ghana.
Addressing the Press, COP Lydia Yaako Donkor stated, “In total, 29 suspects, including Togolese, Beninois, Nigerians and Ghanaians, were arrested”. Adding that a second swoop busted an additional 12 suspects, bringing the total to 41.
She detailed GH¢1,266,770 in Ghana cedis, 100,000 CFA francs, 3,383,570 Nigerian naira (including 1,266,770 naira held as e-cash on a Moneypoint machine), and $5,105 were recovered.
“All cash exhibits have been secured and will be forwarded to the Bank of Ghana for safekeeping as investigations continue, after which the suspects will be charged and put before the court”, COP Lydia Yaako Donkor added.
According to her, the nationwide exercise began in August 2025. “In all, a total of 90 suspects have so far been arrested… Out of this number, 13 have been charged and brought before the Accra Circuit Court.”
“We also 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,” COP Lydia Yaako Donkor cautioned.
Meanwhile, in related forex news, A report by JOYNEWS reveals the Bank of Ghana (BoG) has injected about $10 billion into the forex market since January 2025.
According to the report, the BoG’s moves were aimed at helping to stabilise the cedi.
The reports highlighted that the $10 billion was sold to commercial banks and businesses to meet their dollar needs, which significantly supported the stability of the currency.
The intervention spans January to the first week of December 2025 and forms part of what officials describe as “dollar intervention.”
Joy News is quoted as saying, “Sources close to Bank of Ghana tell Joy Business the move is part of a broader strategy to meet market demand for dollars, rather than a programme designed solely to defend the cedi”.
The funding for the intervention was drawn from the Bank of Ghana’s Domestic Gold Purchase Programme and was executed without depleting its reserves.
“The latest Economic and Financial Data from the Central Bank showed that Ghana’s international reserves stood at $9.1 billion in December 2024.
By October 2025, reserves had improved to $11.4 billion, with strong indications that the year could close above $12 billion”, the JOYNEWS report added.
It will be recalled in October, Dr Johnson Asiama, the Bank of Ghana Governor (BoG), revealed that in October 2025 that the central bank will begin foreign exchange (FX) intermediation under its Domestic Gold Purchase Programme.
According to the central bank, it plans to sell up to $1.15 billion to the market.
The Central Bank revealed the sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks.
The Governor of the BoG, Dr Johnson Asiama, highlighted that there will be no special conditions or earmarked allocations.
Speaking at a meeting with heads of commercial banks in Accra, the Governor of the BoG, Dr Johnson Asiama, stated, “Beginning October 2025, the Bank of Ghana will commence foreign exchange (FX) intermediation under the Domestic Gold Purchase Programme, with plans to sell up to US$1.15 billion for the month.
These sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks,” he said.
In the meantime, President John Dramani Mahama has told managers of Ghana’s currency to continue whatever they are doing, as the cedi regains respect both locally and internationally.
According to John Mahama, Ghanaians are grateful to the Bank of Ghana and the Finance Ministry for their management of the cedi.
Mahama made this known at the Cedi@60 commemoration by the Bank of Ghana in Accra, themed “Sovereignty, Stability, and Economic Resilience”.
See the post below:
Police arrest 41 "abokyi" forex traders in Tuesday dawn swoop; seize GH$1,266,770, 100,000 CFA, 3,383,570 naira and $5,105.#JoyNews pic.twitter.com/Qmray6lxuf
— Joy 99.7 FM (@Joy997FM) December 9, 2025