The suspects with fake naira notes

Operatives of the Abuja Zonal Office of the Economic and Financial Crimes Commission, EFCC have arrested Badamasi Sule and Muhammad Muhammad, suspected money-doublers, for being in possession of counterfeit Naira notes totaling about N45 million.

They were arrested in December 2019, 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.

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.

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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.
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