EFCC busts fake money syndicate in Lagos, Kaduna - NEWS FRONTIER DAILY


Wednesday, May 15, 2024

EFCC busts fake money syndicate in Lagos, Kaduna

The Economic and Financial Crimes Commission (EFCC) has busted a fake money syndicate operating in Lagos and Kaduna, arresting 15 suspects and recovering millions of naira in counterfeit currency.

The suspects, who were 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 are Umar Saidu, Nurudeen AbdulAzeez, Hamidu Usman, Yusuf Isa, Musa Ishaka, Liman Makki, Idris Mohammed, Abdullahi Yahaya, and Ibrahim Haruna.

According to EFCC sources, the syndicate had been operating for months, producing and distributing fake naira notes in different denominations. 

The suspects were caught with a total sum of N2.1 million in fake currency, as well as a large quantity of fake $100 bills.

The EFCC's Lagos Zonal Command led the operation, with support from the Kaduna Zonal Command. 

The agency's spokesman, Dele Oyewale, confirmed the arrests and recoveries, saying that the suspects would be charged to court as soon as investigations are concluded.

On the raid in Lagos, the EFCC said, "Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, arrested thirteen fake bureau de change operators in Lagos. 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."

Meanwhile, on the sting operation in Kaduna, the anti-graft agency said: "Operatives of the Kaduna Zonal Command of the EFCC have arrested two suspects, Abdullahi Yahaya and Ibrahim Haruna, for suspected involvement in 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. 

"Haruna, upon interrogation claimed that the counterfeit dollars were delivered to him some months back for safe-keeping by one Babangida said to be at large."

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