The Economic and Financial Crimes Commission (EFCC) has arrested a 51-year-old father of ten and two other suspects for alleged involvement in a counterfeit foreign currency syndicate operating in Kwara State.
The suspects—Akilu Salisu from Katsina State, Umar Mikailu Shuaibu, a self-acclaimed cleric from Kano State, and Salisu Nura from Jigawa State—are accused of circulating fake United States dollars and British pounds.
According to the EFCC, the case originated from a stop-and-search operation carried out on January 27, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) in Kwara State.
Nura and Shuaibu were initially arrested during the operation before being handed over to the anti-graft agency for further investigation.
During the search, authorities reportedly recovered 435 pieces of counterfeit $100 notes and 378 pieces of counterfeit £50 notes from Nura.
Preliminary findings indicate that the fake currencies were meant to be delivered to Shuaibu, while Salisu was identified as the final recipient in the distribution chain.
Investigators also uncovered suspicious financial activity linked to Shuaibu, including transactions exceeding ₦5 million through a digital payment platform, which he allegedly failed to properly explain.
The EFCC says the suspects remain in custody and will be charged to court upon the conclusion of ongoing investigations, as authorities intensify efforts to clamp down on financial crimes and illicit currency operations in the country.
