According to the Customs Division of the Ghana Revenue Authority (GRA), 80 million counterfeit notes bearing the CFA inscription have been intercepted.

Customs reports that the suspect, identified as Arimu Timothy Adipoe, was apprehended at one of the checkpoints along the Aflao border on a motorcycle with the assistance of other security services when he tried to enter the nation with the phony currency.

Addressing the press, the Commissioner in charge of customs division, Seidu Iddrisu Iddisah explained that “Yesterday [Tuesday] around 4pm, our officers on duty at the Anapro road, under the Aflao connection stopped an Okada rider with passenger carrying a backpack

He said such fake currencies contribute negatively to the economy and further depreciate the Ghana cedis when exchanged for genuine ones.

“He [suspect] will change the fake CFA into naira, get genuine currency and send it back, and we will be losing foreign exchange and will be circulating fake foreign currency in our system,” the Commissioner in charge of customs division stated.

Seidu Iddrisu said further investigation will establish the motive for importing fake currency into the country.

“Investigation is going on, we have cooperation with other agencies, so if it means contacting the Nigerian customs we will do it,” he indicated.