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
Comments have been closed for this article.

Read more from our Users

Submitted by
Isaac Asabor263
Separating kitchen politics from ...

Like everyone else, I believe that the most popular definition of democracy is “government of the people, by the people and for the people”. Read more...

Submitted by
Bethel Tanifo
Ministry of Niger Delta Affairs, ...

Like NDDC Unlike MONDA. This notion is an intuition that does not portend political participation, affiliation, intrusion or aggression but a submission with the intention of completion of the previous administration's noble vision. Read more...

Submitted by
Bethel Tanifo
Nigerian Constitution versus Corr...

The problems of Nigeria is not in its conventional composition, formation, functionality, constitution or treaty, while the solutions are not disintegrations as promulgated by some faiths fanatics and bigotries.  Read more...

Submitted by
Abdulsalam Jubril
Much Ado about Trump’s Presidency

It was unbelievable when the social and mainstream media all over the world began airing the breaking news of Donald Trump’s victory in the most contentious US Presidential elections in recent years. Read more...

Submitted by
Mike Daemon
Nigerian author highlights gay ch...

A new novel by a prolific young Nigerian author features gay characters, which could help increase the visibility of the gay community and possibly lead to greater understanding of LGBT Nigerians. Read more...

Submitted by
Isaac Asabor263
Your Excellency, I will call you ...

Your Excellency, Governor Adams Oshiomhole, as a leader that pays attention to details, I understand that the odd title of this piece would definitely arouse your curiosity.  Read more...