By Nwafor Sunday

The operatives of the Economic and Financial Crimes Commission, EFCC, has through the arrest of Badamasi Sule and Muhammad Muhammad, suspected money-doublers, stopped the circulation of about N45m fake notes, packaged inside two Ghana-must-go bags.

READ ALSO: EFCC arrests eight suspected internet fraudsters in Ibadan

These currency counterfeiters were arrested in December 2019, following actionable intelligence report which exposed a syndicate of fraudsters who specializes in printing fake N1,000 notes. They were also found to be in possession of fake $100 bills.

Disclosing this on Monday via its official facebooks handle, EFCC, said that investigations further revealed that two “Ghana-must-go bags” in their possession containing the N1,000 notes were shortly to be put into circulation. Their primary targets are bureaux de change operators, and unsuspecting members of the public.

READ ALSO: N500, N1000 denominations most commonly counterfeited banknotes — CBN report

The syndicate is believed to be operating from Gashua, Yobe State, with its dispatch lodge being a hotel located in Abacha Estate, close to the Sheraton Hotel and Towers, Abuja.

They will soon be arraigned in court.

Vanguard

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