The Economic and Financial Crimes Commission (EFCC) on Thursday, September 17, commenced investigation of a man, Usaini Ibrahim, who was arrested with counterfeit currency totaling $212,200 in Kano.
Ibrahim was arrested on Thursday, September 3, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri road in Kano following the discovery of the counterfeit currency.
The NDLEA subsequently handed Ibrahim and the fake currency over to the EFCC for further investigation and possible prosecution.
The formal handover took place at the Kano zonal directorate of the EFCC, where the acting zonal director, assistant commander of the EFCC, ACE1 Friday S. Ebelo, received the man and the exhibits.
A representative of the NDLEA, deputy superintendent of Narcotics Yahaya Labaran, expressed appreciation for the continued strategic collaboration between the two agencies in sanitising Nigeria’s financial system.
Ebelo, while receiving the man and the exhibits, reiterated the EFCC’s commitment to cleansing the financial ecosystem of counterfeit currencies and fraudulent schemes.
He specifically warned members of the public against “money doubling” scams, which often involve the use of counterfeit notes to defraud unsuspecting victims.
“Such fake currencies coming into the economy do not paint a good picture of us,” he said.
He urged members of the public to remain vigilant and avoid falling victim to individuals offering to “double” money or promising other financial gains through questionable means.
The EFCC said Ibrahim remained in its custody and would be arraigned in court after the conclusion of investigations.
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