The National Security has successfully dismantled several alleged counterfeit currency operations in Accra, Ghana, resulting in the arrest of 16 suspects. The operation also led to the seizure of four printing machines believed to have been used in the production of fake Ghana cedi notes. This development is a significant breakthrough in the country's efforts to combat counterfeit currency.
Investigations into the alleged operations uncovered syndicates operating from different locations in Accra. Some of the groups allegedly used church premises at Lashibi and Klagon as locations to conceal their activities and carry out operations linked to the production of counterfeit currency. The use of church premises highlights the sophisticated nature of the counterfeit operations.
National Security has named Rev. Emmanuel Boakye-Danquah as a suspect allegedly linked to one of the operations, and he is currently at large. The security agency has also identified Adamu Haruna and Amankwah Bismark, with the latter described by the agency as a suspected kingpin, in connection with the alleged counterfeit currency activities.
The arrests and seizure of the printing equipment form part of efforts by the security authorities to disrupt networks allegedly involved in the production and circulation of counterfeit Ghana cedi notes. Counterfeit currency can undermine confidence in the financial system and expose individuals and businesses to financial losses, particularly when fake notes enter circulation undetected.
Following the arrests, the Bank of Ghana (BoG) has urged members of the public to remain vigilant and take steps to authenticate cedi notes before accepting them during transactions. The central bank has advised the public to use the security features incorporated into Ghanaian banknotes when checking their authenticity.
Members of the public are encouraged to feel the texture of the note, hold it up to light to examine the watermark and security thread, and tilt the note to observe its colour-changing feature. These checks, according to the Bank of Ghana’s guidance, can help members of the public identify suspicious notes before accepting them in exchange for goods, services or other transactions.
The Bank of Ghana has further cautioned that anyone who suspects a note is counterfeit should not attempt to spend or pass it on to another person. Instead, the suspected counterfeit note should be reported to the nearest police station for the appropriate action. This advice aims to prevent the circulation of counterfeit currency and protect the integrity of Ghana's financial system.
Key points
- 16 suspects arrested in connection with counterfeit currency operations in Accra.
- Four printing machines seized, believed to have been used for producing fake Ghana cedi notes.
- Bank of Ghana urges public to remain vigilant and authenticate cedi notes before accepting them.
