The suspect was handed over to the EFCC by the NDLEA after the counterfeit US dollar notes were recovered during an operation along Maiduguri Road.

The Economic and Financial Crimes Commission (EFCC) has commenced investigations into a man identified as Usaini Ibrahim, who was arrested in Kano State with counterfeit United States currency valued at $212,200.

Ibrahim is currently in the custody of the EFCC after he was handed over to the commission by operatives of the National Drug Law Enforcement Agency (NDLEA) for further investigation and possible prosecution.

The suspect was arrested on September 3, 2026, along Maiduguri Road in Kano following the discovery of the counterfeit dollar notes in his possession.

Following the arrest, the NDLEA transferred Ibrahim and the recovered exhibits to the EFCC’s Kano Zonal Directorate, where the commission formally took over the case.

The handover was conducted by an NDLEA representative, Yahaya Labaran, who presented the suspect and the exhibits to the Acting Zonal Director of the EFCC Kano Directorate, Friday S. Ebelo.

The two agencies reaffirmed their commitment to strengthening inter-agency cooperation in the fight against financial crimes and other activities capable of undermining Nigeria’s financial system.

Speaking during the handover, Ebelo cautioned Nigerians against falling victim to so-called “money doubling” schemes, warning that counterfeit currency is sometimes used as part of fraudulent operations targeting unsuspecting members of the public.

He urged Nigerians to exercise caution when approached with offers promising quick or unusually high returns, particularly where the source of the money is unclear.

According to the EFCC, Ibrahim will be arraigned before a court after the completion of the ongoing investigation.

The commission reiterated the importance of public vigilance and cooperation with law enforcement agencies in combating financial crimes and protecting the integrity of the nation’s financial system.