National Security Council Dismantles Multi-Million Counterfeit Currency Syndicate in Greater Accra

In a major blow to financial crime, the National Security Council Secretariat (NSCS) has arrested 16 suspects and dismantled four major counterfeit currency production hubs across the Greater Accra Region. The intelligence-led crackdown, which spanned six weeks from June 12 to July 24, 2026, targeted a sophisticated network involved in the manufacture and distribution of both local and foreign illegal tender. The operation highlights the increasing complexity of criminal syndicates operating within the capital and its outskirts, utilizing both technical expertise and cross-border facilitators to flood the economy with fake notes. The NSCS reported that the operation successfully disrupted several interconnected cells involved in the production and distribution chain.

The scale of the illegal operation was revealed through the seizure of substantial quantities of counterfeit cash and high-tech production materials. Authorities confiscated $543,000, GH₵196,600, and CFA 60,000 in completed counterfeit notes. Additionally, the NSCS recovered unprocessed counterfeit currency coupons with a face value exceeding $5.2 million and GH₵19 million. Beyond the physical currency, four industrial printing machines and several vehicles used for the syndicate's logistics were impounded. The raids took place at multiple locations, including Adjiringanor, Kasoa, and Klagon, revealing a network that authorities describe as highly organized and technically proficient.

A particularly concerning aspect of the investigation is the exploitation of community and religious spaces to mask criminal activities. The NSCS discovered that several production hubs were disguised as residential properties or religious facilities to evade detection. Among those arrested were a fetish priest and a pastor, while security agencies have launched a manhunt for Rev. Emmanuel Boakye-Danquah, who remains at large after his church in Klagon was identified as a primary printing site. One of the key figures identified in the initial phase of the operation was Nana Nyarko Derrick Dapaah, whose arrest provided the necessary intelligence to facilitate subsequent raids across the region.

All 16 suspects are currently in custody and have been remanded as prosecution proceedings begin. The NSCS has issued a stern warning to property owners and religious organizations to be more vigilant about the activities occurring on their premises, noting that criminal elements are increasingly using religious facades to shield illicit operations from public and security scrutiny. Financial institutions have also been advised to enhance their detection systems as the secretariat continues its investigation to track down remaining members of the network. This successful operation underscores the government's commitment to protecting the integrity of the Ghanaian Cedi and the stability of the national economy.