16 arrested in security operation targeting counterfeit currency networks

Sixteen people have been arrested in a security operation targeting organised counterfeit currency networks operating in parts of the Greater Accra Region.

The National Security Council Secretariat said the arrests followed intelligence-led operations carried out with security and intelligence agencies between June 12 and July 24, 2026.

According to the Secretariat, the operations targeted both local and transnational syndicates suspected of printing, possessing and distributing counterfeit Ghanaian and foreign currencies.

The NSCS said the crackdown followed months of covert intelligence gathering after reports that fake notes were entering commercial centres, foreign exchange markets and financial networks.

Security agencies subsequently carried out six coordinated raids at locations described as the main operational hubs of the suspected syndicates.

The operation led to the arrest of 16 principal suspects, made up of Ghanaian and foreign nationals.

Four alleged counterfeit currency printing hubs were also dismantled.

Security officers seized four printing machines believed to have been used to produce the fake notes.

They also recovered six vehicles and two motorcycles allegedly used to transport and distribute the counterfeit currencies.

According to the NSCS, the operation uncovered US$543,000, GH¢196,600 and CFA60,000 in counterfeit notes ready for circulation.

Investigators also seized large quantities of unprocessed coupons intended for printing.

These included US$5,293,500, GH¢19,553,700 and CFA623,550,000.

The Secretariat said the scale of the seizures shows the extent of the alleged counterfeiting network uncovered during the operation.

All 16 suspects and the seized physical and digital exhibits have been transferred to the Bureau of National Intelligence for forensic examination and prosecution.

The security team has also submitted the relevant case dockets to the Office of the Attorney-General and Ministry of Justice.

The NSCS said prosecution is ongoing at the Accra High Court, General Jurisdiction.

It said the operation forms part of wider efforts to disrupt organised criminal networks whose activities could undermine Ghana’s financial and economic systems.