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Ghana’s National Security Council Secretariat has arrested 16 people and dismantled four suspected counterfeit-currency production hubs in Greater Accra following a six-week intelligence-led operation targeting an alleged organised counterfeiting network.
The operation, conducted between June 12 and July 24, 2026, uncovered what the Secretariat described as sophisticated printing, storage and distribution networks allegedly involved in the production and circulation of counterfeit Ghanaian cedis and foreign currencies.
The operation covered six locations across Greater Accra and surrounding districts, with security teams seizing counterfeit notes, unprocessed currency materials, printing equipment and vehicles.
The scale of the seizures has raised fresh concerns about the sophistication of financial crime networks operating within Ghana.
Millions in Fake Currency Materials Seized
According to the National Security Council Secretariat, the raids resulted in the seizure of counterfeit currency reportedly valued at:
- US$543,000
- GH¢196,600
- CFA60,000
The authorities also recovered counterfeit currency coupons that had not yet been processed or printed, with stated face values of approximately:
- US$5.29 million
- GH¢19.55 million
- CFA623.55 million
Four suspected counterfeit-currency printing machines were also seized, alongside six vehicles and two motorcycles.
The Secretariat said the operation disrupted a network allegedly involving technical printing operators, couriers and cross-border facilitators.
Security Teams Target Six Locations
The investigation unfolded through a series of coordinated operations.
Amuzu — June 12
The first operation took place at Amuzu, near Kasoa, where security personnel arrested Nana Nyarko Derrick Dapaah.
Investigators reportedly recovered a currency-printing machine, counterfeit American dollars, Ghana cedis and CFA francs, as well as alleged fake gold bars and five mobile phones.
The facility was allegedly operating from a residential compound presented as a traditional spiritual centre.
Adjiringanor — June 19
A second operation at Adjiringanor resulted in the arrest of seven suspects, including three Ghanaians and four foreign nationals.
Security personnel seized three unregistered vehicles—a Honda CR-V, Toyota Highlander and Toyota Corolla—as well as approximately US$65,900 in alleged counterfeit notes.
Lashibi and Klagon — June 29
Five suspects were arrested following searches at an office and a religious facility in Lashibi and Klagon.
The authorities said a printing machine, two vehicles and large quantities of alleged counterfeit currency materials denominated in dollars, cedis and CFA francs were recovered.
Distribution Network Also Targeted
The investigation subsequently moved beyond the alleged production centres to suspected distribution networks.
On July 9, security personnel intercepted a vehicle near the Lakeside Shell Filling Station and arrested Issah Ibrahim.
Another suspect, identified as Adamu Haruna, remained at large at the time of the announcement.
Five boxes containing alleged counterfeit GH¢200 notes with an estimated face value of GH¢12.42 million were reportedly seized.
Two registered motorcycles were also taken into custody.
Nii Boi Town Operation
On July 21, another operation at Nii Boi Town resulted in the arrest of Solomon Acheampong.
Two alleged accomplices reportedly escaped.
The authorities identified Amankwah Bismark as a person of interest whom investigators believe played a significant role in the alleged network. He remained at large.
Achimota and Amasaman
The final operation, conducted on July 24 in Achimota and Amasaman, led to the arrest of Osman Iddrisu.
Two additional printing machines were reportedly recovered during the operation.
Religious and Residential Premises Allegedly Used
One of the more concerning aspects of the investigation is the alleged use of ordinary-looking properties and institutions to conceal the activities.
According to the National Security Council Secretariat, some of the suspected operations were conducted from residential properties, commercial premises and religious facilities.
The authorities said the network involved people with different responsibilities, ranging from technical printing to storage, transportation and distribution.
Such an arrangement, if established in court, would indicate a relatively structured operation rather than isolated attempts to produce fake currency.
Suspects Remanded as Investigations Continue
The National Security Council Secretariat said all 16 arrested suspects have been remanded into state custody.
Case dockets have reportedly been submitted to the Office of the Attorney-General and Ministry of Justice, while prosecution proceedings are continuing at the Accra High Court.
Security and intelligence teams are also pursuing suspects who remain at large.
The authorities have urged members of the public and institutions to remain vigilant as investigations continue.
Financial Institutions Urged to Be Alert
The Secretariat has specifically called on financial institutions, property owners and administrators of religious facilities to pay closer attention to suspicious activities.
It urged stakeholders to report unusual high-volume printing operations, suspicious foreign-currency transactions and other activities that could indicate financial crime.
The warning comes amid previous counterfeit-currency investigations in Ghana.
In an earlier major operation, National Security uncovered counterfeit US dollars and other currencies as well as alleged fake gold at a suspected syndicate’s facility in the Greater Accra area. Authorities at the time said the investigation pointed to a wider network.
Why Counterfeit Currency Is a Serious Threat
Counterfeit currency is more than a financial crime affecting individual victims.
Large-scale circulation of forged notes can undermine confidence in the financial system, expose businesses and individuals to losses and create additional costs for banks and other institutions that must identify and remove fake currency from circulation.
Foreign-currency counterfeiting can also create broader risks because it can facilitate fraud, money laundering and other forms of cross-border financial crime.
The scale of the materials reportedly recovered in this latest operation therefore makes the investigation significant beyond the individual arrests.
African360 Analysis
The latest operation highlights how financial crime is becoming increasingly sophisticated and organised.
The alleged network did not appear to rely solely on individuals passing fake notes from one person to another. According to National Security, investigators uncovered separate elements involving printing, storage, transportation and distribution.
That makes intelligence-led investigations particularly important.
The seizure of printing equipment is also significant because stopping the production process can potentially prevent large quantities of counterfeit currency from reaching the market.
But arrests and seizures are only one part of the response.
For Ghana’s financial system to remain protected, investigations must ultimately establish who financed the operations, who supplied the equipment and materials, where the counterfeit currency was intended to go and whether there were wider domestic or international connections.
The prosecution of those arrested will also be important.
The 16 suspects are accused persons, not convicted criminals, and the evidence against each individual will have to be tested through due process.
For ordinary Ghanaians, however, the message from the operation is clear: counterfeit currency remains a serious financial-security threat, and vigilance by banks, businesses, property owners and the public remains essential.
The latest crackdown may have dismantled four alleged production hubs—but the continuing manhunt suggests investigators believe the wider network has not yet been completely exposed.
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