Fake Money Dealer Arrested in Kogi

Fake Money Dealer Arrested in Kogi

The State Security Service (SSS) in Kogi have arrested suspected members of a syndicate of currency counterfeiters operating in Kogi, Abuja and Ekiti.

Mike Fubara, the state Director of SSS, told journalists in Lokoja on Tuesday that prior to the arrest, there were reported cases of fake foreign and local currencies in circulation. Fubara said that one Samuel Abbah was arrested following a tip off from a bank in Lokoja where he attempted to deposit N40,000 fake N1,000 notes with the same serial numbers.

"Following his arrest, the service went into deep cover operation, which led to the arrest of the kingpins of the syndicate," he said. The security agents lured the other members of the syndicate and they recovered N400,000 in fake N1,000 currency notes and 500 U.S dollars in 100 dollar bills. Among the arrested members of the syndicate was a 2007 graduate of Geology, who claimed to be running the errand for a Lagos-based woman.

The woman, according to him, promised to assist him in sponsoring his pet project on pipeline vandalisation, which he hoped to nurture into a non-governmental organisation.

Fubara urged the stakeholders, including commercial banks, the business community and the public, to be wary of the currency counterfeiting trend and avoid falling victims.

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