By Soni Daniel, Abuja
The Economic and Financial Crimes Commission, EFCC, has taken into its custody, a man, who specialises in the production and circulation of fake United States Dollars.
The man, whose name was given as Samson Otuedon, was arrested at Masaka in Karu Local Government Area of Nasarawa, State, a densely populated area where Nigerians who cannot afford high rents in the federal capital territory of Abuja, squat in large numbers.
A statement by the Spokesman for the EFCC, Mr. Wilson Uwujaren, said that the suspect, who specializes in counterfeiting foreign currencies, was apprehended following an intelligence report on the activities of a syndicate of fraudsters duping unsuspecting victims in the Masaka area of the State.
The Commission, upon the receipt of the report swung into action by putting the area under surveillance, an action that led to the eventual arrest of the suspect on Saturday.
Upon arrest, over $400,000 was recovered.
While being interrogated, Otuedon admitted that the fake dollars were given to him by other members of his syndicate based in Lagos.
Otuedon, who confessed to the crime, also admitted that the syndicate use fake dollars for money doubling.
The suspect will be charged to court as soon as investigations are concluded.