The Nigeria Police Force says it made a major breakthrough in combating counterfeit currency, by arresting four dealers in Kano and Nasarawa states.
The operation yielded a recovery of $3.5 million, N1.4 million, and 51,970 CFA Franc counterfeit notes.
According to ACP Olumuyiwa Adejobi, the Force Public Relations Officer, one of the key arrests took place on December 8, 2024, in Gwale, Kano.
Nura Ibrahim was taken into custody, and a staggering amount of counterfeit currency was seized, totalling N129.5 billion. The breakdown of the recovered counterfeit currencies includes 3,366,000 US Dollars, 51,970 CFA Franc, and 1,443,000 Naira.
Adejobi said the arrest led to further arrests of accomplices identified as Muhammed Muntari and Usman Abdullahi.
Similarly, on January 13, 2025, operatives of the Force arrested a 53-year-old Ephraim Barde in New Karu, Nasarawa State, with counterfeit U.S. Dollar notes totalling $160,000.
The force spokesperson said that following the arrest, further investigations are underway to determine the full scope of Barde’s involvement and identify any accomplices.
Adejobi added, “The Police are committed to preventing further threats to the nation’s financial system.
“The Nigeria Police Force remains resolute in its efforts to combat financial crimes and ensure a secure economic environment with a view to promoting national security for the safety of all Nigerians and residents.
“The IGP calls on all citizens to play an active role in national security by reporting suspicious activities related to counterfeit currency and financial crimes.”
Adejobi also announced that the Force has established the Police Anti-Money Laundering Units of the Nigeria Police Force, and appointed CP Hyacinth Azuka Edozie with officers of the rank of Chief Superintendents of Police (CSPs) to lead the units in all State Criminal Investigation Departments (SCIDs) across the country.
He said, “This initiative is a strategic move to strengthen the Police’s role in national security, specifically in combating financial crimes.
“It is also critical in countering the sophisticated methods used by terrorist organizations and other criminal entities to finance their activities.”
Sahara Reporters
