The Economic and Financial Crimes Commission (EFCC) has launched an investigation into Usaini Ibrahim, who was arrested in Kano with counterfeit United States currency worth $212,200.
According to a Thursday post on the EFCC’s X handle, Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road in Kano after the fake currency was discovered.
The NDLEA subsequently transferred Ibrahim and the counterfeit currency to the EFCC for further investigation and possible prosecution.
The formal handover was carried out at the EFCC Kano Zonal Directorate, where the Acting Zonal Director, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received the suspect and the exhibits.
A representative of the NDLEA, Deputy Superintendent of Narcotics Yahaya Labaran, commended the continued cooperation between the two agencies in their efforts to protect Nigeria’s financial system.
While receiving the suspect, Ebelo reaffirmed the EFCC’s commitment to combating the circulation of counterfeit currencies and other forms of financial crime.
He also warned members of the public about “money doubling” scams, which often involve counterfeit currency being used to defraud unsuspecting victims.
“Such fake currencies coming into the economy do not paint a good picture of us,” Ebelo said.
He urged Nigerians to remain vigilant and stay away from individuals who offer to double money or promise quick financial returns through questionable schemes.
The EFCC said Ibrahim remains in its custody and will be arraigned in court after investigations are completed.
The commission added that the investigation will determine the circumstances surrounding the counterfeit currency and establish whether other offences or individuals are connected to the case.
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