Kehinde Fajobi
The Nigeria Police Force has arrested two individuals in separate incidents related to counterfeit currencies in Kano and Nasarawa States.
The arrests are part of efforts to curb terrorism financing through the newly established Police Anti-Money Laundering Units.
On December 8, 2024, in Gwale, Kano, operatives arrested Nura Ibrahim after uncovering counterfeit currency worth N129.54 million.
The counterfeit money included $3.36 million in fake US dollars, 51,970 CFA francs, and 1.44 million counterfeit Naira. The arrest also led to the detention of accomplices Muhammed Muntari and Usman Abdullahi.
Similarly, on January 13, 2025, 53-year-old Ephraim Barde was arrested in New Karu, Nasarawa State, with $160,000 in counterfeit US dollars.
Force Public Relations Officer, ACP Muyiwa Adejobi, explained that these operations are part of a broader strategy initiated by Inspector General of Police, IGP Egbetokun, to combat terrorism financing and strengthen national security.
“The establishment of the Police Anti-Money Laundering Units is a strategic move to strengthen the Police’s role in national security, specifically in combating financial crimes,” Adejobi stated.
“It is also critical in countering the sophisticated methods used by terrorist organizations and other criminal entities to finance their activities.”
He emphasised that the units’ work enhances the operational capacity of law enforcement and supports the Nigeria Financial Intelligence Unit (NFIU) in its global oversight efforts.
Further investigations are ongoing to identify additional suspects and uncover the full extent of the counterfeit currency operations.
The Nigeria Police Force said it remains committed to safeguarding the country’s financial system and national security.