The National Security Secretariat in collaboration with relevant security and intelligence agencies has arrested a total of 16 suspects following six coordinated raids in the Greater Accra Region.
The 16, comprising Ghanaian and foreign nationals, were arrested after the exercise conducted between Thursday, June 12 and Friday, July 24.
“These operations have effectively dismantled high-level, organised transnational and domestic criminal syndicates involved in the large-scale printing, possession and distribution of counterfeit local and foreign currencies across the Greater Accra Region and surrounding districts,” a press release issued by the Secretariat said.
The operations led to the dismantling of four printing hubs, seizure of four counterfeit currency printing machines, six vehicles and two motorcycles used for transit and dispatch and the recovery of a total of $543,000, GH¢196,000 and CFA60,000 in ready-to-spend counterfeit notes.
The first operation was conducted in Amuzu, a suburb of Kasoa on Thursday, June 12. The exercise led to the arrest of Nana Nyarko Derrick Dapaah, whose residential compound was utilised under the guise of a traditional spiritual center.
“One (1) currency printing machine, fake gold bars, five (5) mobile devices, USD 477,500.00, GHS195,900.00, CFA 60,000.00 in counterfeit notes ready to be spent, and USD 4,700.00, GHS 7,300.00 in counterfeit coupons yet to be processed and printed were seized.”
Other areas the operation was extended to are Adjiringanor, Lashibi, Klagon, Lakeside Estates, Nii Boi Town, Achimota and Amasaman.
According to the National Security, a primary tactic observed across the operations is the deliberate exploitation of churches and administrative offices of a few religious organisations.
“Criminals use these premises to reduce the noise and vibration of printing machinery, secure storage and deter local suspicion.”
It said by the interception, artificial inflation, exchange rate distortion and financial sector destabilisation were averted.
All arrested suspects have been remanded into police custody.
The National Security Secretariat reaffirmed commitment to preserving the integrity of Ghana’s currency and financial ecosystem, urging the public to exercise due diligence regarding some unlawful activities taking place on their premises.