The Economic and Financial Crimes Commission (EFCC) has opened investigation into a case of man arrested with counterfeit United States currency worth $212,200 in Kano State.
The suspect, identified as Usaini Ibrahim, was apprehended after operatives of the National Drug Law Enforcement Agency (NDLEA) discovered the suspected fake dollars in his possession.
It was gathered on Thursday that the arrest took place along Maiduguri Road in Kano on September 3, 2026, before the NDLEA transferred Ibrahim and the recovered currency to the EFCC Kano Zonal Directorate for further investigation.
During the handover, NDLEA Deputy Superintendent of Narcotics Yahaya Labaran highlighted the importance of cooperation between both agencies in tackling offences that could undermine the country’s financial system.
Receiving the suspect and the exhibits, the Acting Zonal Director of the EFCC, Assistant Commander of the EFCC I, Friday Ebelo, said the commission would pursue the case in line with its mandate.
Ebelo also cautioned Nigerians against money-doubling schemes, warning that criminals often use counterfeit currency to lure unsuspecting people into fraudulent transactions.
“Such fake currencies coming into the economy do not paint a good picture of us,” he said.
The EFCC urged members of the public to be wary of individuals promising quick financial gains through money-doubling arrangements and other suspicious offers.
Ibrahim remains in EFCC custody as investigators examine the source of the counterfeit currency and determine whether other offences or persons are linked to the case.
The commission said the suspect would be arraigned after the investigation is completed.