A 24-year-old self-acclaimed businessman has also been arrested over suspected production of fake Ghana Cedi notes.
He has since been remanded into custody by the Konongo Magistrate Court, in the Asante-Akim Central Municipality.
Prince Adebayor, the suspect, was caught red-handed by the police at Konongo engaging in the illegal activity, following a tip-off.
The prosecutor, Police Detective Princeton Peasah Darkwah told the Court that on May 6, at about 2pm, Police received information that the accused was counterfeiting Ghana Cedi notes in front of a shop at Konongo.
He said other items found on the suspect were three bottles containing a black liquid, a small bottle with a whitish powder and 12 pieces of white paper, cut into the size of two cedi notes.
He led the police in the course of the investigation to Ejisu, where he claimed his boss was residing, but on reaching there, the police found an empty office.
The accused however refused to name the said boss.
Detective Inspector Peasah said the accused later confessed to the police that he was working alone to produce fake cedi notes and had no accomplice as he had earlier asserted.
He said the accused also admitted counterfeiting two Cedi notes to defraud the unsuspecting public and demonstrated to the police, the process he used to produce the fake currency notes and how he outwits his victims.
The police for the purpose of evidence filmed the demonstration by the accused.