EFCC smashes fake currency syndicate, cautions Nigerians

Members of a conspiracy that specializes in counterfeiting foreign currency, particularly the dollar, for sale to naïve Nigerians have been arrested by the Economic and Financial Crimes Commission (EFCC).

The EFCC also cautioned the public to be careful of fraud syndicates posing as Bureau de Change operators operating across the country.

The Commission’s spokesperson, Mr Wilson Uwujaren, stated this in an Abuja statement on Tuesday.

According to Uwujaren, the operation was carried out in collaboration with agents from the National Drug Law Enforcement Agency (NDLEA), and four members of the syndicate were apprehended.

He stated that the conspiracy, which included a lady, was apprehended with US$427,400 in counterfeit US dollars at the Swiss Pearl Continental Hotel, Koforidua Street, Wuse Zone 2, Abuja.

“They provided crucial information, which led to the arrest of the syndicate’s kingpin, Douglas Mbonu.”

“The Commission wishes to warn members of the public to be wary of the activities of fraud syndicates masquerading as Bureau de Change operators.

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“Such operators are seeking to exploit the desperation of some citizens sourcing for forex for various purposes to defraud them of their hard-earned money.

“Citizens are advised to source their forex from commercial banks in line with the directives of the Central Bank of Nigeria to minimize the risk of exposure to fraud syndicates,” he said.

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