FCT, Abuja – No fewer than four suspects have been arrested by the police for counterfeiting foreign currency in Kano and Nasarawa states.
Operatives of the Nigeria Police Force (NPF) arrested Nura Ibrahim and discovered counterfeit currency, amounting to the sum of N129,542,823,000 in counterfeit currencies in Kano state.
Ibrahim was arrested by the police at Gwale, Kano state on Sunday, December 8 following credible intelligence.
The Force’s public relations officer, ACP Olumuyiwa Adejobi, made this known in a statement issued via the police X handle (formerly known as Twitter) on Wednesday, January 15.
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Adejobi said the breakdown of the counterfeit currencies includes, 3,366,000 in United States Dollars, 51,970 in CFA francs, and 1,443,000 in Nigerian Naira.
He said Ibrahim’s arrest led to further arrests of accomplices, Muhammed Muntari and Usman Abdullahi.
“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.”
In a similar development, the police arrested 53-year-old Ephraim Barde in New Karu, Nasarawa State, with counterfeit U.S. dollar notes amounting to $160,000.
The police spokesperson said further investigations are ongoing to determine Barde’s full scope and identify any accomplices.
According to Adejobi, the Police are working on preventing further threats to the nation’s financial system.
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“Similarly, 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.”
Legit.ng recalls that a couple, Chinedu Ngwaka and his wife, were arrested by the police over fraudulent scheme worth N320 million.
The public relations officer, FCID Annex, Lagos state, Mayegun Aminat, said the self-acclaimed Licensed Bureau De Change (BDC) operator will be charged to court for prosecution.
CBN alerts Nigerians on fake foreign currency transfers
Meanwhile, Legit.ng reported that the Central Bank of Nigeria (CBN) raised the alarm about the growing wave of fake foreign currency transfers.
CBN warned Nigerians against fraudulent SWIFT messages and unsubstantiated claims about foreign currency transfers .
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In a statement, the CBN said it had been inundated by petitions claiming foreign currencies sent to them have not been credited to their accounts.
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Source: Legit.ng