The Kano State Police Command has apprehended three individuals in possession of counterfeit currencies amounting to an astonishing N129,542,826,000. The currencies included US dollars, CFA francs, and Nigerian naira, with some reportedly stolen from another dealer.
The Command’s Public Relations Officer, SP Abdullahi Haruna, confirmed the arrests in a statement on Tuesday, detailing the extensive haul of fake currency and other illegal items seized during recent operations.
Arrest and Seizure
According to SP Haruna, two suspects were arrested in possession of the counterfeit money, while a third individual, who had stolen some of the counterfeit funds from another dealer, was also taken into custody. The fake currencies recovered included:
- $3,366,000 in US dollars
- CFA51,970,000 in CFA francs
- N1,443,000 in Nigerian naira
The total value of the counterfeit currency is estimated at over N129 billion. The suspects are currently assisting the police with investigations to identify the actual producers of the counterfeit money.
Other Items Recovered
In addition to the counterfeit currencies, the Kano Police Command also reported the recovery of:
- Six live ammunition
- Three tricycles
- Eight motorcycles
- Three parcels and 175 wraps of dried leaves suspected to be Indian hemp
- 250 pieces of diazepam tablets
The operation also included the recovery of livestock believed to have been stolen, comprising 278 sheep and seven cattle.
Tackling Criminal Activities
SP Haruna emphasized the Command’s commitment to fighting crime in the state, noting that their proactive measures have significantly reduced incidents of major crimes, including kidnapping, armed robbery, drug dealing, and thuggery.
“These approaches have not only led to the apprehension of criminals but have also served as a deterrent to potential offenders,” Haruna said.
Investigation Ongoing
The suspects are being held in police custody while investigations continue to unravel the network behind the counterfeit currency production. The police are working to identify the masterminds responsible for the manufacturing and distribution of the fake money, which poses a significant threat to the financial integrity of the country.
Public Reactions and Police Appeal
The revelation of the counterfeit currency haul has sparked widespread concern among Kano residents, with many applauding the police for their swift action. However, there are calls for stricter regulations and surveillance to prevent similar crimes in the future.
The Kano State Police Command has appealed to the public to remain vigilant and report any suspicious activities to law enforcement agencies. The Command also reiterated its dedication to maintaining law and order in the state.
Broader Implications
The arrest of the suspects and the seizure of such a massive quantity of counterfeit currency underscore the ongoing challenges posed by financial crimes in Nigeria. Counterfeiting not only undermines trust in the economy but also fuels other criminal activities. The authorities are under pressure to ensure thorough investigations and bring the perpetrators to justice.
The crackdown by the Kano State Police reflects a significant step toward addressing the menace, but the case also highlights the need for enhanced collaboration between law enforcement, financial institutions, and regulatory agencies to combat the proliferation of fake currency in the country.
