How operatives arrest fake currencies syndicate, seize $427,400 in Abuja ─EFCC

*Nigeria’s Economic and Financial Crimes Commission warns members of the public to be wary of activities of fraud syndicates masquerading as Bureau de Change operators but out to exploit consumers seeking Forex and defraud them of their hard-earned money

Alexander Davis | ConsumerConnect

The Economic and Financial Crimes Commission (EFCC) has stated its operatives Tuesday, December 14, 2021, arrested members of a syndicate counterfeiters of foreign currencies, especially the United States (US) Dollars in Abuja, FCT.

ConsumerConnect reports Mr. Wilson Uwujaren, Spokesperson of the country’s anti-graft Commission, in a statement disclosed the four suspects usually sold counterfeited foreign currencies to unsuspecting members of the public.

Counterfeited Dollar bills  Photo: Premium Times

The EFCC noted that its operatives apparently recovered fake US Dollars worth $427,400 from the suspected currency counterfeiters during the arrest.

The regulatory Commission stated: “Acting on verified intelligence, the commission in a joint operation with operatives of the National Drug Law Enforcement Agency, NDLEA, arrested four members of the syndicate on Wednesday, December 8, 2021, at Swiss Pearl Continental Hotel, Koforidua Street, in the Wuse 2 Area of Abuja with $427,400 fake United States Dollars.

“The suspects include a woman, Princess Fashanu Adesina. Others are John Ogbaje, Emmanuel Bassey and Chidi Nwanchukwu.”

Uwujaren noted that the suspects had volunteered useful statements, which eventually led to the arrest of certain Chief Douglas Mbonu, the syndicate’s kingpin, Tuesday, December 14, 2021.

The Commission’s Spokesman said the suspects were arrested at Swiss Pearl Continental Hotel, Koforidua Street, in Wuse 2 Area, Abuja, FCT, in a joint operation of the operatives of the EFCC and the National Drug Law Enforcement Agency (NDLEA) Wednesday, December 8, 2021.

The EFCC, therefore, “wishes to warn members of the public to be wary of the activities of fraud syndicates masquerading as Bureau de Change operators, seeking to exploit the desperation of some citizens sourcing for forex for various purposes to defraud them of their hard-earned monies.”

The regulatory agency also advised Nigerian consumers to source their Foreign Exchange (Forex) needs from commercial banks in line with the directives of the Central Bank of Nigeria (CBN) in order to minimise the risk of exposure to fraud syndicates in the country.