The Borno State Police Command yesterday swung to action and busted a fake currency manufacturing and circulating syndicate in Maiduguri, the state capital.
The criminal fake money manufacturing clique is notorious for the production of high denominations of naira notes that are injected into the economy.
According to the confessional statement of the nabbed culprits, a bundle of fake 100 units of N1,000 notes costs N11,000 and it is sold for N16,000.
Borno State police commissioner, Aderemi Opadokun, said those behind the injection of fake currency into the economy have a network between Nigeria and Cameroon Republic.
Speaking at a press conference that detailed recent successful police anti-crime operations in Borno State, CP Opadokun said aside from cases of raping, the disturbing trend of armed robbery has been on the rise.
“Borno State police recently embarked on proactive measures of anti-crime patrol and intelligence gathering that paid off with the arrest of a notorious fake currency dealer in the person of one Adam Ajid who lives here in Fulatari Ward, Maiduguri, who is known for defrauding members of the public with fake currencies”, he said.
The CP said the arrested suspect was found with N4.5 million worth of fake currency, all in crispy N1,000 notes.
The police chief added that the suspect’s supplier “who is alleged to be from Cameroon Republic is being trailed.”
Asked how he got involved in the fake currency manufacturing ring, Adam Ajid said he became an agent for his suppliers after his electronics business failed due to the ongoing Boko Haram insurgency.
He confessed that he had taken delivery of such fake currencies four times in the past.
The police also paraded other fraudsters who were caught circulating fake dollar bills in Maiduguri.
One of the suspects, Bashir Goni Kwayam, met his waterloo when he purchased clothes, using fake $300.
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