Man arrested with fake $400,000 by EFCC (Photos)

A man identified as Samson Otuedon has been arrested by The Economic and Financial Crimes Commission, EFCC, on Saturday, April 7, 2018, at Masaka, Karu Local Government Area of Nasarawa State for currency counterfeiting. He was caught in his possession with about $400,000 of fake currency.
Man arrested with fake $400,000 by EFCC (Photos) lailasnews 3


Luck ran out on Otuedon, who specialized in counterfeiting foreign currencies, following an intelligence report on Friday, April 6, 2018 on the activities of a syndicate of fraudsters duping unsuspecting victims in Masaka area of the State.
Man arrested with fake $400,000 by EFCC (Photos) lailasnews 2
The Commission, upon 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.
On arrest, fake foreign currencies totaling over $400,000 (Four Hundred Thousand United States Dollars) were recovered. While being interrogated, Otuedon admitted that the fake dollars were given to him by other members of his syndicate based in Lagos.
According to him, one of their modus operandi was giving people with genuine dollars part of the fake dollars; that way, it is easily infiltrated into the system.
Otuedon, who confessed to the crime, also admitted that the syndicate use fake dollars for money doubling.
The suspect will be charged to court as soon as investigations are concluded.
EFCC, FAAN Partner Against Corruption, Security
The Federal Airport Authority of Nigeria, FAAN, and the Economic and Financial Crimes Commission, EFCC, have assured of better synergy in the fight against corruption and enhancement of security in Nigeria.
FAAN Regional General Manager, Bello Mohamed Sabo made this known during a courtesy visit by the Zonal Head of the Kano operational zone of the EFCC, Garba Dugum, at his Malam Aminu Kano Airport’s office.
The Kano Zonal Head of EFCC, who led the EFCC team said the decision of the Commission to visit the FAAN boss was in order to strengthen the already existing synergy between the Commission and FAAN in terms of operations especially in its fight against corruption. Dugum however highlighted some challenges the Commission is facing in its airport operations.
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