Concerns about potential regulatory shortcomings and the strength of Ghana’s financial security mechanisms have been raised by the discovery of genuine Bank of Ghana (BoG) cash boxes at the heart of a massive counterfeiting operation in Sapeiman.
The event has brought to the public’s attention the unsettling potential for insider participation in what is currently regarded as one of the most complex criminal schemes to be discovered in recent years.

Richard Jakpa, the National Security Secretariat’s Director of Special Operations, verified during an exclusive site visit that the money boxes found at the location were genuine BoG property.

He revealed, “Authorities have confirmed that these boxes are authentic,” raising questions about how state-approved financial assets ended up in the hands of a clandestine criminal organisation.

The business, which was discovered in February, had been operating behind a front in an abandoned building that was posing as a small battery-charging shop.
It is thought that the elderly guy running the front, referred to locally as the “Battery Doctor,” acted as a front for the actual operations, which included producing large quantities of counterfeit money and phoney gold bars.

Ten 40-foot containers containing counterfeit US dollar notes, gold-plated metals, and Ghanaian cedis were confiscated.

Shortly before the security raid, two additional containers that were thought to be connected to the operation were apparently transported.

A man simply known as “Alhaji” is presently being sought by investigators who believe he was the operation’s mastermind.

According to Mr. Jakpa, there is strong evidence linking him to the crime scene in Sapeiman and pointing to connections to a larger financial criminal network.

He said, “Alhaji is a key player in this syndicate, and efforts are being made to bring him to justice.”