The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has apprehended a three-man syndicate allegedly involved in the circulation of counterfeit foreign currencies.
Among those taken into custody is Akilu Salisu, a 51-year-old father of ten from Malumfashi Local Government Area of Katsina State. He was arrested alongside Umar Mikailu Shuaibu, a self-acclaimed cleric from the Kafor Wambari area of Kano State, and Salisu Nura, a native of Garki Local Government Area in Jigawa State.
The Distribution Network
According to preliminary investigations by the anti-graft agency, the suspects operated a sophisticated distribution chain for fake banknotes. The EFCC revealed that the counterfeit currencies—consisting primarily of United States Dollars and British Pounds Sterling—were destined for Shuaibu, while Akilu Salisu was identified as the final recipient and distributor in the illicit operation.
Legal Implications
The EFCC is currently intensifying its investigation to track the source of the high-quality forgeries. Under the Counterfeit Currency (Special Provisions) Act, the possession or distribution of fake legal tender carries severe penalties, including the possibility of life imprisonment.
Officials stated that the suspects will be charged in court as soon as investigations are concluded. The Commission has also issued a warning to the public, particularly Bureau De Change operators and traders, to remain vigilant against the influx of counterfeit foreign denominations.
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