The National Security Council Secretariat (NSCS), working with other security and intelligence agencies, has arrested 16 suspects and dismantled four counterfeit currency printing hubs following a series of intelligence-led operations across Greater Accra and surrounding districts.
The operations, conducted between June 12 and July 24, 2026, targeted networks allegedly involved in the large-scale production, possession and distribution of counterfeit Ghanaian and foreign currencies. Six coordinated raids were carried out after months of intelligence gathering.
The NSCS said the operations led to the seizure of US$543,000, GH¢196,600 and CFA60,000 in counterfeit notes that were ready for circulation.
Security agencies also recovered unprocessed currency coupons valued at US$5,293,500, GH¢19,553,700 and CFA623,550,000, which investigators believe were intended for further printing. Four counterfeit currency printing machines, six vehicles and two motorcycles were also seized.
The NSCS said the syndicates operated through a structured network involving technical printing operators, alleged cross-border facilitators and commercial dispatch riders who transported counterfeit notes to buyers.
One of the operations took place at Amuzu, near Kasoa, where a suspect identified as Nana Nyarko Derrick Dapaah was arrested at a residential compound allegedly operating under the cover of a traditional spiritual centre. A printing machine, fake gold bars, mobile phones and counterfeit currency were seized.
In a separate operation, seven suspects — three Ghanaians and four foreign nationals — were arrested in connection with an alleged transnational network. Three unregistered vehicles and US$65,900 in counterfeit notes were also seized.
The NSCS said five suspects were arrested during a June 29 operation at Lashibi and Klagon, where investigators later traced the operation to the headquarters of a religious facility. Administrative offices and residential quarters were allegedly being used to produce and store counterfeit currency.
The agency said one printing machine, two vehicles and millions of dollars, cedis and CFA-denominated counterfeit coupons were recovered from the facility.
The NSCS has warned that the circulation of large volumes of counterfeit currency could contribute to inflation, exchange-rate distortions and instability within the financial sector.
The 16 suspects have been remanded into state custody, while case dockets have been submitted to the Office of the Attorney-General and Ministry of Justice. Prosecution proceedings are ongoing at the Accra High Court.
Special intelligence teams are also pursuing other suspects identified during the investigations, including some who remain at large