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.
Four production hubs were disrupted in the six-week, intelligence-led operation, conducted between June 12 and July 24, 2026, which uncovered sophisticated printing and distribution networks allegedly producing and circulating large quantities of fake local and foreign currency.
Security teams seized $543,000, GHC196,600 and CFA60,000 in counterfeit notes ready for circulation, alongside counterfeit coupons valued at $5,293,500, GHC19,553,700 and CFA623,550,000 that were yet to be processed and printed.
Four currency printing machines, six vehicles and two motorcycles were also impounded during coordinated raids and interceptions at six locations in Greater Accra and surrounding districts.
According to the Secretariat, the operation disrupted a network of technical printing operators, cross-border facilitators and couriers.
Some suspects allegedly used religious facilities, residential properties and commercial premises as production and storage sites.
On June 12, Nana Nyarko Derrick Dapaah was arrested. Police recovered a currency printing machine, fake gold bars, five mobile phones, and counterfeit dollars, cedis, and CFA francs from a residential compound allegedly operating under the cover of a traditional spiritual centre in Amuzu, Kasoa.
Seven suspects, three Ghanaians and four foreign nationals, were arrested on June 19 in Adjiringanor. Three unregistered vehicles (a Honda CR-V, Toyota Highlander and Toyota Corolla) and $65,900 in counterfeit notes were seized.
In Lashibi and Klagon, five suspects were arrested after searches of an office and a religious facility. On June 29, authorities recovered a printing machine, two vehicles, and millions in counterfeit dollars, cedis, and CFA francs in coupon form.
On July 9, Issah Ibrahim was arrested; a second suspect, Adamu Haruna, remains at large. Five boxes of counterfeit GHC200 notes with an estimated face value of GHC12.42 million, plus two registered motorcycles, were seized near Lakeside Shell Filling Station.
On July 21, Solomon Acheampong was arrested in Nii Boi Town; two alleged accomplices escaped. Amankwah Bismark, described by investigators as a key figure, remains at large.
Then on July 24, at Achimota and Amasaman, Osman Iddrisu was arrested, and two printing machines were seized.
All 16 suspects have been remanded into state custody, with case dockets submitted to the Office of the Attorney-General and Ministry of Justice.
Prosecution is ongoing at the Accra High Court, while intelligence teams continue efforts to locate suspects still at large.
The Secretariat 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 security agencies.
