Atta Tindana and Mohammed Iddrisu were found with an Israeli-made pistol last Monday, November 17.
Police Chief Superintendent Peter Baba, Ashanti Regional Criminal Officer, told newsmen that the arrest was carried out at about 1730 hours.
The police received information that the suspects were fighting over the weapon and moved in to apprehend them together with the gun.
Chief Supt. Baba said they had begun investigations to determine how the two came by the pistol and that they would be put before court as soon as investigations were completed.