Two Money Doublers Grabbed With N45m Fake Notes

January 20, 2020
edcc

By Modupe Gbadeyanka

Two suspected money-doublers, Mr Badamasi Sule and Mr Muhammad Muhammad, have been apprehended by operatives of the Abuja zonal office of the Economic and Financial Crimes Commission (EFCC).

The suspects were nabbed in December 2019 for allegedly being in possession of counterfeit Naira notes totaling about N45 million.

According to the anti-graft agency, the alleged currency counterfeiters was arrested following actionable intelligence report which exposed a syndicate of fraudsters who specialize in printing fake N1,000 notes. They were also found to be in possession of fake $100 bills.
It was 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.

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.

In a statement issued on Monday, January 20, 2020, the EFCC said it will soon arraign the alleged money doublers in court to face the wrath of the law.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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