EFCC Investigates Suspect Arrested With Counterfeit $212,200 in Kano
KANO — The Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has commenced investigation into a suspect, Usaini Ibrahim, arrested in possession of 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 in Kano, following the discovery of the counterfeit currency.
The NDLEA subsequently handed over the suspect and the recovered exhibits to the EFCC for further investigation and possible prosecution.
The formal handover took place at the Kano Zonal Directorate of the EFCC, where the Acting Zonal Director, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received the suspect and the exhibits.
Representing the NDLEA, Deputy Superintendent of Narcotics Yahaya Labaran expressed appreciation for the continued collaboration between the two agencies in tackling financial crimes and protecting the integrity of Nigeria's financial system.
Receiving the suspect and the exhibits, Ebelo reaffirmed the EFCC's commitment to combating the circulation of counterfeit currencies and other fraudulent financial schemes.
He also warned members of the public against falling victim to so-called "money doubling" schemes, which, according to the EFCC, are often used by fraudsters to deceive unsuspecting victims with counterfeit currencies.
«“Such fake currencies coming into the economy do not paint a good picture of us,” Ebelo said.»
He urged members of the public to remain vigilant and exercise caution when approached by individuals promising to multiply or double money through questionable financial arrangements.
The EFCC said Ibrahim remains in its custody while investigations continue. He is expected to be arraigned before a court upon the conclusion of the investigation and the determination of the appropriate charges.
The Analyst Online Media will continue to monitor developments in the case.
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