Nigerian police recover N125bn fake foreign currencies, unveil anti-money laundering unit

Operatives of the Nigeria Police Force have arrested four suspects who counterfeited foreign currency in Kano and Nasarawa states.

In Kano State, operatives were said to have apprehended one Nura Ibrahim and discovered counterfeit currency, including N129,542,823,000 in counterfeit currencies, on December 8, 2024.

A statement on Wednesday by the Force Spokesperson, Muyiwa Adejobi, said a breakdown of the recovered fake money included $3,366,000 in counterfeit US dollars, 51,970 counterfeit CFA francs, and N1,443,000 in counterfeit naira notes.

Adejobi noted that two additional suspects, identified as Muhammed Muntari and Usman Abdullahi, were also arrested in connection with the case.

He said, “As a testament to the zeal to curb financial crimes and boost national security, the police recently made significant arrests in Kano and Nasarawa states.

:On December 8, 2024, at Gwale, Kano, operatives, acting on credible intelligence, apprehended Nura Ibrahim and discovered counterfeit currency, which included the sum of N129,542,823,000 in counterfeit currencies, with a breakdown of 3,366,000 in Counterfeit US Dollars, 51,970 in Counterfeit CFA franc, and 1,443,000 in counterfeit Naira.

“The arrest led to further arrests of accomplices Muhammed Muntari and Usman Abdullahi.”

Police warn FCT residents of 17 black spots
Similarly, Adejobi said operatives arrested a 53-year-old man identified as Ephraim Barde in Nasarawa State with $160,000 on January 13, 2025.

He said, “On January 13, 2025, the Force arrested 53-year-old Ephraim Barde in New Karu, Nasarawa State, with counterfeit U.S. dollar notes totalling $160,000.

“Following the arrest, further investigations are underway to determine the full scope of Barde’s involvement and identify any accomplices. The Police are committed to preventing further threats to the nation’s financial system.”

Adejobi also said the Inspector-General of Police, Kayode Egbetokun, has established the Anti-Money Laundering Units of the Nigeria Police Force, appointing a financial expert, CP Hyacinth AEdozie, with officers of the rank of Chief Superintendents of Police to lead the units in all State Criminal Investigation Departments across the country.

“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.

“The establishment underscores the Force’s commitment to safeguarding national security by preventing and detecting illicit financial activities that could undermine the country’s stability. It also enhances the operational capacity of law enforcement agencies, especially the Nigerian Financial Intelligence Unit, in furtherance of its global oversight functions to address various security threats,” Adejobi added.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Security

Nigerian Police Arrest Five-Man ‘One Chance’ Gang In Rivers

Police say a preliminary investigation is ongoing, with the suspects and the recovered vehicle currently in police custody. The Rivers State Police Command has announced the arrest of a 5-man gang that specialises in opportunistic robbery of innocent commuters in Port Harcourt, popularly known as ‘One Chance’. Confirming this via a statement, the Command’s spokesperson, […]

Read More
Security

Nigeria police arrest 1,088 financial crime suspects, recover $11m, ₦142bn

The Nigeria Police Force has arrested no fewer than 1,088 suspects linked to financial crimes in separate operations across the country in 2024, recovering $11.45 million and ₦142.26 billion in the process. The Force Public Relations Officer, Olumuyiwa Adejobi, disclosed this in a statement released Tuesday, highlighting the arrests and recoveries as part of efforts […]

Read More
Security

FCT police arrests suspect for k$lling man over plans to marry a woman he had heavily invested on financially

Nigerian FCT police command have arrested a notorious gang leader, Abubakar Idris (AKA Nishi) and his accomplices, Buhari Saidu and Musa Ahmadu Suleiman, over the gruesome m$rder of one Ibrahim Danfulani. A statement released by the spokesperson of the command, SP Josephine Adeh, said the incident, which took place on the 27th of November, 2024, […]

Read More