EFCC smashes fake currency syndicate, warns Nigerians

The Economic and Financial Crimes Commission (EFCC) has arrested members of a syndicate who specialise in counterfeiting foreign currencies, especially the dollar, for sale to unsuspecting members of the public.

Mr Wilson Uwujaren, spokesperson for the Commission stated this in a statement on Tuesday in Abuja.

Uwujaren said the operation was carried out jointly with operatives of the National Drug Law Enforcement Agency (NDLEA) which resulted in the arrest of four members of the syndicate.

He added that the syndicate, including a woman, were arrested at Swiss Pearl Continental Hotel, Koforidua Street, in Wuse Zone 2, Abuja, with US$427,400 fake United States Dollars.

“They volunteered useful statements which eventually led to the arrest of the syndicate’s kingpin, one Douglas Mbonu.

“The Commission wishes to warn members of the public to be wary of the activities of fraud syndicates masquerading as Bureau de Change operators.

“Such operators seeking to exploit the desperation of some citizens sourcing for forex for various purposes to defraud them of their hard-earned monies.

“Citizens are advised to source their forex from commercial banks in line with the directives of the Central Bank of Nigeria to minimize the risk of exposure to fraud syndicates,” he said.