He was arrested by the Kasoa Divisional Police Command at the Estate Junction with wads of fake GH¢50 notes.
The suspect named Kofi Appiah alias Dacosta was caught in possession of fake foreign currencies as well.
The police searched his apartment after which several fake currencies were retrieved.
According to the Divisional Crime Officer for Kasoa, DSP Owusu Dwomoh, the suspect, has mentioned another individual as the source of the fake currency.
He said the suspect will soon be put before the court.
He told Accra-based Citi FM that "This morning, acting upon intelligence, we had information that someone was dealing in fake currency. We dispatched our men to the area and arrested one suspect…The items were hidden on the rooftop of his apartment. We seized them and sent them to the station. We also saw black papers cut to the size of currency notes. Upon interrogation, he mentioned someone at Accra Newtown as the one who gave the items to him. We are still conducting an investigation into the matter and after investigations, we will put him before the court."
The Divisional Crime Officer also urged the public to be cautious when transacting business with people.
He said: "The public should be very cautious about these people. What they normally do is that they will come to you that they want to buy some items, and then they will put fake 50 notes on top and beneath a bundle. If you do not check properly, you will think all the notes they are giving you are genuine, but they aren't."