N125bn fake foreign currencies recovered in Kano, Nasarawa

The Nigeria Police Force said it has recovered foreign currencies valued at N125bn from criminals in Kano and Nasarawa states.

In Kano State, operatives were said to have apprehended one Nura Ibrahim and discovered counterfeit currency, which included the sum of N129,542,823,000 in counterfeit currencies on December 8.

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.”

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.”

Meanwhile, Adejobi the Inspector-General of Police, Kayode Egbetokun, had established the Anti-Money Laundering Units of the Nigeria Police Force, appointing a financial expert, CP Hyacinth Edozie, 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 to counter the sophisticated methods used by terrorist organisations 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.