Counterfeit currency syndicates used churches to hide printing operations – National Security Council Secretariat

Counterfeit currency syndicates deliberately exploited churches and administrative offices of some religious organisations to conceal their printing operations, the National Security Council Secretariat (NSCS) has revealed.

The Secretariat said the use of religious premises was among the key operational patterns uncovered during intelligence-led raids conducted between June 12 and July 24, 2026.

According to the NSCS, the syndicates used the premises to reduce suspicion around the noise and vibration generated by printing machines, as well as for storage of materials and finished counterfeit currency.

The disclosure forms part of findings from a major security operation targeting transnational and domestic criminal networks involved in the alleged large-scale production, possession and distribution of counterfeit Ghanaian and foreign currencies.

In a statement issued on Tuesday, September 22, the NSCS said tactical units carried out six coordinated raids across operational locations in the Greater Accra Region and surrounding districts.

The operations resulted in the arrest of 16 principal suspects, comprising Ghanaian and foreign nationals, and the dismantling of four printing hubs.

Security agencies seized four counterfeit currency printing machines, six vehicles and two motorcycles allegedly used to transport and distribute the counterfeit currency.

They also recovered US$543,000, GH¢196,600 and CFA 60,000 in finished counterfeit notes.

A further US$5,293,500, GH¢19,553,700 and CFA 623,550,000 in coupons yet to be processed and printed were also seized.

One of the significant operations occurred on June 29 at Lashibi and Klagon.

The NSCS said a raid on an office facility in Lashibi led to the arrest of five suspects and the seizure of printing equipment.

Follow-up intelligence subsequently took security teams to the headquarters of a religious facility in Klagon.

The Secretariat said searches there revealed that administrative offices and residential quarters were allegedly being used as a production and storage facility for the counterfeit currency operation.

One printing machine and two operational vehicles were seized, along with large quantities of counterfeit currency coupons.

Rev. Emmanuel Boakye-Danquah was identified by the NSCS as being at large in connection with the operation.

The allegations against the named suspect remain subject to the ongoing legal process.

The NSCS said its investigations revealed a structured system involving different levels of the alleged criminal networks.

These included transnational facilitators responsible for cross-border distribution, technical operators handling the printing process, and commercial courier riders who allegedly used motorcycles to deliver counterfeit notes and coupons.

The Secretariat said the seizure of millions of finished notes and unprocessed coupons, together with four printing machines capable of producing millions of notes, prevented potential disruption to the economy.

It said the circulation of such volumes of counterfeit currency could contribute to artificial inflation, exchange-rate distortions and instability in the financial sector.

The NSCS said all 16 arrested suspects have been formally remanded into state custody.

Case dockets have been completed and submitted to the Office of the Attorney-General and Ministry of Justice, with prosecution proceedings ongoing at the Accra High Court, General Jurisdiction.

Special intelligence teams are also continuing efforts to locate and arrest suspects who remain at large.

The NSCS said state prosecutors have initiated processes for the court-ordered forfeiture of vehicles, printing equipment and mobile devices allegedly used in the operations.

The Secretariat has urged members of the public, financial institutions, property owners and administrators of religious facilities to conduct due diligence on activities taking place on their premises.

It is also asking the public to report suspicious high-volume printing activities, particularly late at night, as well as unusual foreign currency transactions, to the nearest security agency.