Two of the suspects are on admission at a hospital under police guard.
One injured victim identified as Appiah is also on admission at the 37 Military Hospital responding to treatment.
Assistant Commissioner of Police (ACP) Kwesi Ofori, Director-General, Public Affairs, Ghana Police Service, made these known in a media engagement on Wednesday.
He said the violent clash was led by one Kumodzi, alias “Ibrahim Hussein” and Bombor, alias “Ali Awudu”, leaders of the rival groups, after they had decided to publicly go all out on Tuesday to iron out their differences.
ACP Ofori said the police was prompt in responding and disengaged the factions.
He said police retrieved some important items, clues and evidence on the streets such as spent ammunition, some ammunition and adapted implements to cause harm or injury.
ACP Ofori said they were currently pursuing other criminals within Nima and its environs to make them face the law.
He assured the people of Nima that the police would always be there to protect lives and property and would not give room for criminals to distort the peace and security of Nima.
ACP Ofori said those arrested would be subjected to thorough investigations and those found culpable made to face the law.
Meanwhile, Deputy Commissioner of Police (DCOP) Mr Iddi Lansah Seidu, the Accra Regional Police Commander, has led a delegation of police officers to engage with members of the Nima community.