4 arrested as Nigerian Police recover ₦125bn worth of counterfeit foreign currency
The Nigeria Police Force (NPF) has confirmed the arrest of four suspects for counterfeiting foreign currency in Kano and Nasarawa states.
The Force Spokesperson, Muyiwa Adejobi, confirmed this in a statement released on Wednesday
A certain Nura Ibrahim was arrested in Kano State on December 8, 2024 with counterfeit currencies totaling N129,542,823,000 recovered.
Adejobi confirmed that $3,366,000 in counterfeit US dollars, 51,970 counterfeit CFA francs, and N1,443,000 in counterfeit naira notes were recovered in total.
According to him, Muhammed Muntari and Usman Abdullahi, are other suspects arrested.
“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,” the Spokesman said.
Additionally, Adejobi revealed that the Police apprehended a certain Ephraim Barde in Nasarawa State on January 13, 2025, with $160,000.
“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.,” he said.
Following these arrests, the Inspector-General of Police (IG), Kayode Egbetokun, has formed the Anti-Money Laundering Units of the Nigeria Police Force.
Financial expert, CP Hyacinth AEdozie, with officers of the rank of Chief Superintendents of Police has been appointed to lead the units in all State Criminal Investigation Departments in Nigeria, Adejobi disclosed.
“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 explained.
