National Security arrests 13 for illegal forex trading amid cedi depreciation concerns

A joint national security task force has arrested thirteen individuals for illegal foreign currency exchange on July 26, 2024, in Osu and Tudu.

The task force, including personnel from the Ghana Police Service, the National Intelligence Bureau, and the National Fusion Centre of the Ministry of National Security, aimed to curb cedi depreciation and regulate forex trading.

The operation recovered various sums of money, including $17,840, CUSD 1,450, 515,000 Naira, CFA 1,167,000, GH¢419,685, €230, and 50 Egyptian pounds.

The suspects and the confiscated currencies have been handed over to the police for further investigation and prosecution.

More operations are planned nationwide to support the Bank of Ghana in regulating forex trading.