EFCC smashes fake currency syndicate, cautions Nigerians

 EFCC smashes fake currency syndicate, cautions Nigerians

By Joseph Ayinde

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

The EFCC also warned members of the public to be wary of the activities of fraud syndicates masquerading as Bureau de Change operators across the country.

Mr Wilson Uwujaren, the spokesperson for the Commission, stated this in a statement on Tuesday in Abuja.

Uwujaren said the operation was carried out jointly with operatives of the National Drug Law Enforcement Agency (NDLEA) which resulted in the arrest of four members of the syndicate.

He added that the syndicate, including a woman, were arrested at Swiss Pearl Continental Hotel, Koforidua Street, in Wuse Zone 2, Abuja, with US$427,400 fake United States Dollars.

“They volunteered useful statements which eventually led to the arrest of the syndicate’s kingpin, one Douglas Mbonu.

“The Commission wishes to warn members of the public to be wary of the activities of fraud syndicates masquerading as Bureau de Change operators.

“Such operators are seeking to exploit the desperation of some citizens sourcing for forex for various purposes to defraud them of their hard-earned money.

“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,” he said.

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