THE Economic and Financial Crimes Commission (EFCC) says it has commenced an investigation into one Usaini Ibrahim, a suspect arrested with counterfeit $212,200 in Kano.
News Point Nigeria reports that Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road in Kano.
According to a statement issued on Thursday, the NDLEA said the suspect and the counterfeit notes had been handed over to the EFCC at the commission’s zonal directorate in Kano for further investigation and possible prosecution.
Friday Ebelo, acting zonal director and assistant commander of the EFCC, received the suspect and the exhibits.
Yahaya Labaran, deputy superintendent of narcotics, who represented the NDLEA, said the partnership between the two agencies was aimed at sanitising Nigeria’s financial system.
The EFCC zonal director said the commission was committed to tackling the circulation of counterfeit currencies and fraudulent schemes.
He warned members of the public to be wary of money-doubling scams, which he said often involve the use of counterfeit notes to defraud unsuspecting victims.
“Such fake currencies coming into the economy do not paint a good picture of us,” he said.
The anti-graft agency said Ibrahim is currently in its custody pending arraignment in court after the conclusion of investigations.
