The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into Usaini Ibrahim, who was arrested in Kano with counterfeit United States currency valued at $212,200.
According to a post on the EFCC’s X handle on Thursday, Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road in Kano after the counterfeit currency was discovered.
The NDLEA subsequently handed over the suspect and the counterfeit notes to the EFCC for further investigation and possible prosecution.
The handover took place at the EFCC’s Kano Zonal Directorate, where the Acting Zonal Director, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received the suspect and the exhibits.
A representative of the NDLEA, Deputy Superintendent of Narcotics Yahaya Labaran, commended the continued collaboration between the two agencies in efforts to protect Nigeria’s financial system.
Receiving the suspect, Ebelo reaffirmed the EFCC’s commitment to combating the circulation of counterfeit currency and other financial crimes.
He also warned members of the public against “money doubling” scams, which often involve the use of counterfeit currency to defraud unsuspecting victims.
“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 avoid individuals who offer to double money or promise quick financial returns through questionable schemes.
The EFCC said Ibrahim remains in its custody and will be arraigned in court upon the conclusion of investigations.
The commission added that the investigation would establish the circumstances surrounding the counterfeit currency and determine whether other offences or individuals are connected to the case.
