Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Fake currencies syndicate arrested in Lagos

29 January 2013, 10:06

Lagos  - The Lagos State Police Command said on Monday that it had arrested a syndicate that specialised in printing fake local and foreign currencies.

Mr Umar Manko, Commissioner of Police, while parading the six suspects at the police headquarters in Ikeja, said the police were yet to establish their major marketers.

He said that 22 printing and cutting machines were recovered from the suspects while about N100million fake currencies were also recovered.

The commissioner said that the suspects had been printing currencies ranging from Naira, US Dollars, Pound Starlings, Euro, Cedis and Cefa notes of different denominations in the state for market world wide.

Manko disclosed that the suspects were apprehended sequel to information received by the Officer in Charge of Special Anti-robbery Squad, Mr Abba Kyari.

According to him, they were arrested at No 6, Ogunlana St., Alagbado.

He said that Kyari led the operatives to the area where intensive surveillance yielded fruit with the arrest of two suspects, eight printing machines and fake currencies, valued over N8 million.

The commissioner said that upon interrogation, the suspects made confessional statements which led to the arrest of three others, 14 printing and cutting machines with fake notes valued over N100 million.

Manko disclosed further that the suspects had confessed that they had many customers coming to buy currencies from Abuja, Republic of Benin, Ghana, Mali, Togo, Liberia and Sierra Leone.

Some of the suspects told newsmen that they sold fake N100 000 for N5 000 and a wrap of fake 100 dollars for N3 000.

NAN

NEXT ON NEWS24 NIGERIAX

Read News24’s Comments Policy

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Peregrino Brimah
From Borno: The state of Nigeria’...

The IDP camps as certainly not prisons or detention camps, but sadly the lives of many of the occupants are not quite different than that of prisoners. Read more...

Obomanomics has worked wonders to...

The recent plan to help the middle-class is a cogent fulfillment of his promise to cut taxes for 95% of all working families and never to increase taxes on the middle class.  Read more...

Submitted by
Ekwy Ozoemena
God's word doesn't contradict its...

Woman have asked, what if your husband wants you to go places with him on a Sundays and miss church?  Read more...

Sitting on the fence

I just wanna let us know that this is not the time for us to start sophistries on media in the name of "who emerges as winner" in the forthcoming election. Read more...

Submitted by
George Chuks
Big miracle that we neglect!

What we all search for in life is what no one can define but humans all seek for satisfaction but material things can never be quenched due to unsatisfied nature of mankind. Read more...

Submitted by
Vicalfae
Christians don't sell your rights

My people will rejoice when the righteous are in authority.  Read more...