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.
Liberia: Between Ebola And the ty...

The Sirleaf reign as president, as her stint in America’s big corp, has been tainted with allegations of corruption and nepotism and now with the Ebola epidemic.  Read more...

Submitted by
MARTIN BECK NWORAH
I am sorry

There is always a point in one's life when you'll sit down,shut your outer thoughts and meditate on the things that really matter. Read more...

Submitted by
Ajayi Osahenoma
Heaven and hell

There are two place we all are heading to, Heaven or hell, these two are matters of choice. Read more...

Submitted by
Omorogbe Dan Endurance
Change dear universe

Everything that’s happening in the universe today, are happening as a result of our actions, what we are doing and what we are not doing. Read more...

Submitted by
Chidi Anyaehie
What is Faan up to?

Since the exit of the former aviation minister Stella Odua, FAAN has constituted themselves into another NCS, but that's not all. Read more...

Submitted by
SAMUEL UFOT EKEKERE
Time for change: Now or later

Even amongst people of little or no spiritual attributes, there is a strong tendency towards waiting. Read more...