The Economic and Financial Crimes Commission says it has arrested a suspected fraudster, Samson Otuedon, with over $400,000 (N144m) fake notes.
The EFCC said in a statement by its Spokesman, Mr. Wilson Uwujaren, that the suspect was arrested at Masaka, Karu Local Government Area of Nasarawa State.
Otuedon, who specialised in counterfeiting foreign currencies, was apprehended following an intelligence report on the activities of a syndicate of fraudsters duping unsuspecting victims in the Masaka area of the state.
The commission, upon the receipt, of the report swung into action by putting the area under surveillance, an action that led to the eventual arrest of the suspect on Saturday.
The statement added, “While being interrogated, Otuedon admitted that the fake dollars were given to him by other members of his syndicate based in Lagos. Otuedon, who confessed to the crime, also admitted that the syndicate uses fake dollars for ‘money doubling’.”
The anti-graft agency said the suspect would be charged to court as soon as investigations were concluded.