The Economic and Financial Crimes Commission (EFCC) has commenced investigation into Usaini Ibrahim, arrested with counterfeit $212,200 in Kano.
Ibrahim was arrested on Sept. 3 by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road, Kano, after the discovery of the counterfeit currency.
The NDLEA later handed over the suspect and the exhibits to the EFCC for investigation and possible prosecution.
The handover took place at the EFCC Kano Zonal Directorate, where the Acting Zonal Director, ACE1 Friday S. Ebelo, received the suspect and exhibits.
NDLEA representative, Deputy Superintendent of Narcotics Yahaya Labaran, expressed appreciation for the continued collaboration between the two agencies in sanitising Nigeria’s financial system.
Ebelo reiterated the EFCC’s commitment to tackling counterfeit currency and fraudulent schemes.
He warned the public against “money doubling” scams, saying counterfeit notes were often used to defraud unsuspecting victims.
“Such fake currencies coming into the economy do not paint a good picture of us,” he said.
He urged the public to remain vigilant and avoid individuals offering to “double” money or engage in other financial crimes through questionable means.
The suspect remains in EFCC custody and will be arraigned after investigations.
