EFCC arrests five members of fake foreign currency syndicate

December 15, 2021
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The Economic and Financial Crimes Commission (EFCC), have arrested members of a syndicate, who specialize in counterfeiting foreign currencies, especially the dollar, for sale to unsuspecting members of the public.

EFCC Head Media and Publicity, Wilson Uwujaren, in a press statement, Tuesday, said: “Acting on verified intelligence, the Commission in a joint operation with operatives of the National Drug Law Enforcement Agency, NDLEA, arrested four members of the syndicate on Wednesday, December 8, 2021 at Swiss Pearl Continental Hotel, Koforidua Street, in the Wuse 2 Area of Abuja with $427,400 fake United States Dollars.

“The suspects include a woman, Princess Fashanu Adesina, John Ogbaje, Emmanuel Bassey and Chidi Nwanchukwu. They volunteered useful statements which eventually led to the arrest of the syndicate’s kingpin, one Chief Douglas Mbonu on Tuesday, December 14, 2021.”

READ ALSOEFCC bars unvaccinated staff from entering office

Meanwhile, the commission has warned members of the public to be wary of activities of fraudulent syndicates masquerading as Bureau de Change (BCD) operators, seeking to exploit the desperation of some citizens sourcing for forex for various purposes to defraud them of their hard-earned monies.

“Citizens are advised to source their forex from commercial banks in line with the directives of the Central Bank of Nigeria to minimize the risk of exposure to fraud syndicates,” the Spokesperson stated.

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