The Economic and Financial Crimes Commission (EFCC), Kano Zonal Directorate, has commenced investigation into a suspect, Usaini Ibrahim, arrested with counterfeit United States currency valued at $212,200.
Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road, Kano, following the discovery of the counterfeit dollars.
The NDLEA subsequently handed over the suspect and the recovered fake currency to the EFCC for further investigation and possible prosecution.
The formal handover was conducted at the EFCC’s Kano Zonal Directorate, where the Acting Zonal Director, Assistant Commander of the EFCC (ACE I), Friday S. Ebelo, received the suspect and exhibits from the NDLEA.
The NDLEA representative, Deputy Superintendent of Narcotics Yahaya Labaran, commended the continued collaboration between both agencies in tackling financial crimes and protecting Nigeria’s financial system.
Receiving the suspect, Ebelo reaffirmed the EFCC’s commitment to combating the circulation of counterfeit currencies and other fraudulent financial schemes.
He particularly warned Nigerians against falling victim to “money doubling” scams, noting that fraudsters often use counterfeit currencies to deceive unsuspecting members of the public.
“Such fake currencies coming into the economy do not paint a good picture of us,” Ebelo said, urging members of the public to remain vigilant and avoid individuals promising to multiply money through dubious schemes.
Ibrahim remains in EFCC custody and is expected to be arraigned in court after the conclusion of investigations.
