Three individuals were arrested for conspiracy and money counterfeiting, the Economic and Financial Crimes Commission (EFCC) announced on Wednesday.
The Commission in a statement said that its Lagos Zonal Office had commenced investigations into the alleged case of conspiracy and currency counterfeiting levelled against them.
“The suspects, Sylvannus Ireka Ifechukwu, Patrick Chima Ibiam and Ajimijere Mathias Adegbenro, were arrested by the Nigeria Police Force Intelligence Bureau, Force Headquarters, Obalende, Lagos on April 30, 2021.
“And subsequently handed over to the EFCC for further investigation and prosecution,” It stated.
The Commission also alleged that the suspects have a network spread across the globe.
According to the commission, investigation has revealed that the suspects, whose operational base is located in Brazil, allegedly produce fake foreign currencies such as US Dollars, Pound Sterling and Euros.
It also stated that the suspects, after producing the fake currencies, source for buyers at strategic locations including hotels, Bureau de Change offices and social gatherings within the Lagos metropolis.
“Upon their arrest, some incriminating materials were recovered from them. The suspects will soon be charged to court,” it said.
