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A 51-year-old father of 10, Akilu Salisu, from Malumfashi Local Government Area of Katsina State, has been arrested.
He was arrested alongside a self-acclaimed cleric, Umar Mikailu Shuaibu from the Kafor Wambari area of Kano State, and Salisu Nura from Garki Local Government Area of Jigawa State, by the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission.
They were arrested over their alleged involvement in the circulation of counterfeit foreign currencies, including United States dollars and pounds sterling.
A statement by the EFCC Head of Media and Publicity, Dele Oyewale, made available to journalists in Ilorin, Kwara State, on Thursday, said, “Nura and Shuaibu were initially arrested by operatives of the Kwara State Command of the National Drug Law Enforcement Agency during a stop-and-search operation on January 27, 2026, and were subsequently handed over to the anti-graft agency for further investigation and possible prosecution.
“During the operation, Nura was found in possession of 435 pieces of counterfeit $100 notes and 378 pieces of counterfeit £50 notes.
“Preliminary investigations revealed that the counterfeit currencies were intended for delivery to Shuaibu, while Salisu was identified as the final recipient in the distribution chain.”
It added that further investigation into Shuaibu’s account with a digital payment platform uncovered multiple suspicious transactions amounting to over N5 million, for which he could not provide satisfactory explanations.
The statement noted that the suspects would be arraigned in court upon the conclusion of ongoing investigations.
Currency counterfeiting is treated as a serious financial crime under Nigerian law because of its potential to undermine economic stability and facilitate other forms of organised criminal activity, such as fraud and money laundering.
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