16 arrested as National Security busts counterfeit currency syndicates
The National Security Council Secretariat (NSCS) has arrested 16 suspects and dismantled a network of organised counterfeit currency syndicates operating across the Greater Accra Region.
The arrests followed a six-week intelligence-led operation conducted between June 12 and July 24, 2026, which targeted four suspected counterfeit currency production hubs.
According to the NSCS, the operations uncovered sophisticated printing and distribution networks allegedly involved in producing and circulating large quantities of fake local and foreign currencies.
Security personnel seized counterfeit notes worth $543,000, GH¢196,600 and CFA60,000 that were reportedly ready for circulation.
They also recovered counterfeit coupons valued at $5,293,500, GH¢19,553,700 and CFA623,550,000 that were yet to be processed and printed.
Four counterfeit currency printing machines, six vehicles and two motorcycles were also seized during coordinated raids at six locations across Greater Accra and surrounding districts.
The NSCS said the operation disrupted a network involving technical printing operators, cross-border facilitators and couriers.
Some of the suspects allegedly used religious facilities, residential properties and commercial premises as production and storage centres.
The first operation took place at Amuzu, a suburb of Kasoa, on June 12, resulting in the arrest of Nana Nyarko Derrick Dapaah.
A currency printing machine, fake gold bars, five mobile phones and counterfeit US dollars, Ghana cedis and CFA francs were recovered from a residential compound allegedly operating under the cover of a traditional spiritual centre.
On June 19, seven suspects, including three Ghanaians and four foreign nationals, were arrested at Adjiringanor.
Three unregistered vehicles — a Honda CR-V, Toyota Highlander and Toyota Corolla — as well as $65,900 in counterfeit notes were seized.
Five more suspects were arrested at Lashibi and Klagon on June 29 after security personnel searched an office and a religious facility.
A printing machine, two vehicles and large quantities of counterfeit dollar, cedi and CFA currency coupons were recovered.
On July 9, an interception near the Lakeside Shell Filling Station led to the arrest of Issah Ibrahim, while another suspect, Adamu Haruna, remains at large.
Security personnel seized five boxes containing counterfeit GH¢200 notes with an estimated face value of GH¢12.42 million, along with two registered motorcycles.
At Nii Boi Town on July 21, Solomon Acheampong was arrested, while two alleged accomplices escaped.
Another suspect, Amankwah Bismark, identified by investigators as a key figure in the network, remains at large.
The final operation at Achimota and Amasaman on July 24 resulted in the arrest of Osman Iddrisu and the seizure of two counterfeit currency printing machines.
The NSCS said all 16 suspects arrested have been remanded into state custody, while case dockets have been submitted to the Office of the Attorney-General and Ministry of Justice.
Prosecution is ongoing at the Accra High Court as intelligence teams continue efforts to locate suspects who remain at large.
The Secretariat has urged financial institutions, property owners and administrators of religious facilities to remain vigilant and report suspicious high-volume printing activities or unusual foreign currency transactions to the security agencies.
By Esther Padmore Amonoo
