By Mary Izuaka

 

The Economic and Financial Crimes Commission (EFCC) said it has commenced an investigation into a suspect arrested in Kano with counterfeit United States currency totalling $212,200.

Usaini Ibrahim was arrested on 3 September by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road in Kano, Kanoafter State, North-west Nigeria, after the counterfeit currency was discovered, according to a statement by the commission’s Head of Media and Publicity, Dele Oyewale, on Thursday.

The statement added that the NDLEA subsequently handed Mr Ibrahim and the counterfeit currency over to the EFCC for further investigation and possible prosecution.

It said the formal handover took place at the EFCC’s Kano Zonal Directorate, where the Acting Zonal Director, Friday Ebelo, received the suspect and the exhibits.

A representative of the NDLEA, Yahaya Labaran, a deputy superintendent of narcotics, handed over the case and expressed appreciation for the continued strategic collaboration between the two agencies in sanitising Nigeria’s financial system.

Mr Ebelo acknowledged the handover and reiterated the EFCC’s commitment to cleansing the financial ecosystem of counterfeit currencies and fraudulent schemes.

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According to the EFCC, Mr Ebelo specifically warned members of the public to be wary of “money doubling” scams, which often involve counterfeit notes to defraud unsuspecting victims.

“Such fake currencies coming into the economy do not paint a good picture of us,” Mr Ebelo explained.

He urged members of the public to remain vigilant and avoid individuals offering to “double” money or engage in other financial crimes through questionable means.

EFCC said Mr Ibrahim remains in EFCC custody and will be arraigned in court upon conclusion of investigations.