The Economic and Financial Crimes Commission (EFCC) has uncovered a counterfeit money syndicate in Lagos and Kaduna, leading to the arrest of 15 suspects and the recovery of millions of naira.
The suspects arrested in a series of sting operations between May 10 and 13, 2024, include Abdulahi Musa, Garba Abdullahi, Dauda Hussaini, Jubril Musa, Abdulwaheed Iliyasu, and Abubakar Mohammed.
Others include Umar Saidu, Nurudeen AbdulAzeez, Hamidu Usman, Yusuf Isa, Musa Ishaka, Liman Makki, Idris Mohammed, Abdullahi Yahaya, and Ibrahim Haruna.
EFCC sources reported that the syndicate had been operating for months, producing and distributing counterfeit naira notes in various denominations.
The suspects were apprehended with a total of N2.1 million in counterfeit currency, along with a significant amount of fake $100 bills.
With support from the Kaduna Zonal Command, the EFCC's Lagos Zonal Command conducted the operation.
As soon as investigations were concluded, the agency’s spokesman, Dele Oyewale, confirmed the arrests and recoveries, stating that the suspects will be charged to court.
The EFCC announced that thirteen fake bureau de change operators were apprehended in Lagos by operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, during a raid. They were arrested for operating BDC without an appropriate licence.
“Also, a sum of N2.1m in fake currency was recovered from a suspected currency racketeer, Kafayat Lateef, at the point of arrest.
She is currently being held at the EFCC’s custody and will be charged to court soon.”
During the sting operation in Kaduna, the anti-graft agency reported that the Kaduna Zonal Command of the EFCC apprehended two suspects, Abdullahi Yahaya and Ibrahim Haruna, for suspected currency counterfeiting."
“Upon arrest, a total sum of $81,700 (Eighty-one Thousand, Seven Hundred Dollars), all in fake $100 denomination, was found in their possession.
