TD The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into a man identified as Usaini Ibrahim, who was allegedly found in possession of counterfeit United States currency worth $212,200 in face value in Kano State.
Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road, Kano.
The suspect and the seized counterfeit notes were subsequently transferred to the EFCC’s Kano Zonal Directorate for further investigation and possible prosecution.
Suspect, Counterfeit Dollars Handed Over to EFCC
According to the EFCC, its Acting Zonal Director and Assistant Commander, Friday Ebelo, received Ibrahim and the exhibits from the NDLEA.
The NDLEA delegation was led by Yahaya Labaran, Deputy Superintendent of Narcotics, who represented the agency during the handover.
Labaran said the collaboration between the two agencies was part of efforts to strengthen inter-agency cooperation and protect Nigeria’s financial system from activities involving counterfeit currency and other forms of financial crime.
EFCC Warns Against Money-Doubling Scams
The EFCC said it would investigate the source and intended use of the counterfeit notes, as well as establish whether other individuals were involved in the alleged scheme.
The commission also warned members of the public against money-doubling scams, noting that fraudsters often use counterfeit currency as part of schemes designed to deceive unsuspecting victims.
Ebelo said the circulation of counterfeit foreign currency poses a threat to the integrity of the financial system.
“Such fake currencies coming into the economy do not paint a good picture of us,” he said.
The EFCC said Ibrahim remains in its custody while investigations continue and that he is expected to be arraigned in court after the conclusion of the investigation.
Investigation Ongoing
The commission has not indicated that the suspect has been convicted of any offence.
The allegations remain subject to investigation and, if charges are filed, determination by a competent court.
