The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into Usaini Ibrahim, who was arrested in Kano with suspected counterfeit United States currency valued at $212,200.
Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road in Kano after the suspected fake dollars were discovered in his possession.
Following the arrest, the suspect and the recovered currency were transferred to the Kano Zonal Directorate of the EFCC for further investigation and possible prosecution.
The handover took place at the EFCC’s Kano office, where the Acting Zonal Director, Assistant Commander of the EFCC, Friday S. Ebelo, formally received Ibrahim and the exhibits from the NDLEA.
During the handover, NDLEA representative, Deputy Superintendent of Narcotics Yahaya Labaran, commended the cooperation between the two agencies in the fight against financial crimes and efforts to protect the integrity of Nigeria’s financial system.
Ebelo, while confirming receipt of the suspect and the exhibits, reaffirmed the EFCC’s commitment to tackling the circulation of counterfeit currency and other fraudulent financial activities.
He also warned members of the public to be cautious of individuals promoting so-called money-doubling schemes, which he said are frequently linked to the use of fake currencies.
“Such fake currencies coming into the economy do not paint a good picture of us,” Ebelo added.
He urged Nigerians to remain vigilant and avoid suspicious financial offers, particularly individuals who promise to multiply money or propose transactions that appear questionable.
The EFCC spokesperson, Dele Oyewale, confirmed that an investigation into the case is ongoing.
According to Oyewale, Ibrahim remains in EFCC custody and is expected to be taken to court after investigators conclude their probe.
The investigation is expected to establish the circumstances surrounding the possession of the suspected counterfeit dollars and determine whether the suspect should face prosecution.
Source: EFCC
