The Economic and Financial Crimes Commission (EFCC) has commenced investigations into a suspect, Usaini Ibrahim, following his arrest in Kano with alleged counterfeit United States currency valued at $212,200.
Ibrahim was arrested on September 3, 2026, by operatives of the National Drug Law Enforcement Agency (NDLEA) along Maiduguri Road in Kano after the suspected counterfeit currency was discovered in his possession.
The NDLEA subsequently handed Ibrahim and the recovered currency over to the EFCC for further investigation and possible prosecution.
EFCC Takes Over Investigation
The formal handover took place at the EFCC’s Kano Zonal Directorate, where the Acting Zonal Director, ACE1 Friday S. Ebelo, received the suspect and the exhibits.
The NDLEA representative, Deputy Superintendent of Narcotics Yahaya Labaran, expressed appreciation for the continued collaboration between the two agencies in tackling activities capable of undermining Nigeria’s financial system.
The EFCC said the investigation would examine the circumstances surrounding the possession of the suspected counterfeit currency and determine whether other offences or individuals may be connected to the case.
EFCC Warns Against ‘Money Doubling’ Scams
While receiving the suspect, Ebelo reaffirmed the commission’s commitment to combating the circulation of counterfeit currencies and other fraudulent financial schemes.
He also warned Nigerians against so-called “money doubling” scams, which he said can involve counterfeit notes being used to deceive unsuspecting victims.
“Such fake currencies coming into the economy do not paint a good picture of us,” Ebelo said.
He urged members of the public to remain vigilant and avoid individuals who promise to multiply or “double” money through questionable financial arrangements.
Suspect Awaits Court Arraignment
Ibrahim remains in EFCC custody as investigators continue their work.
According to the commission, he is expected to be arraigned in court after the conclusion of investigations. Any criminal liability will ultimately be determined through the judicial process.
The case also highlights the continuing cooperation between the EFCC and NDLEA in investigating offences that intersect with financial crime and other illicit activities.
As the investigation progresses, authorities are expected to establish how the suspected counterfeit dollars were obtained, their intended use and whether additional persons were involved.
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