The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into a suspect, Usaini Ibrahim, following the seizure of counterfeit United States currency valued at $212,200 in Kano State.
Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency along Maiduguri Road in Kano after the counterfeit currency was discovered.
The NDLEA subsequently handed the suspect and the fake currency over to the EFCC for further investigation and possible prosecution.
The formal handover took place at the EFCC Kano Zonal Directorate, where the Acting Zonal Director, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received Ibrahim and the exhibits.
A representative of the NDLEA, Deputy Superintendent of Narcotics Yahaya Labaran, expressed appreciation for the continued collaboration between the two agencies in tackling financial crimes.
Receiving the suspect, Ebelo reaffirmed the EFCC’s commitment to tackling the circulation of counterfeit currency and other financial crimes.
He also warned members of the public against “money doubling” scams, which often involve counterfeit currency being used to defraud unsuspecting victims.
“Such fake currencies coming into the economy do not paint a good picture of us,” Ebelo said.
He urged members of the public to remain vigilant and avoid individuals offering to double money or promising quick financial returns through questionable schemes.
According to the EFCC, Ibrahim remains in its custody while investigators work to establish the circumstances surrounding the counterfeit currency.
The commission said the investigation would also determine whether other offences were committed or whether additional individuals were connected to the case.
Ibrahim is expected to be arraigned in court after the investigation is concluded.
The case highlights continued cooperation between Nigerian law-enforcement agencies in investigating suspected financial crimes and the circulation of fraudulent currency.
The EFCC has handled other recent foreign-currency cases in Kano, including investigations following currency interceptions at the Mallam Aminu Kano International Airport.
However, the present case concerns alleged counterfeit dollars reportedly discovered after the NDLEA arrested Ibrahim along Maiduguri Road.
Ibrahim has not been convicted of any offence, and the allegations against him remain subject to investigation and judicial proceedings.
