Terror financing: Police recover N125b in fake foreign currencies

The police high command has renewed its fight against financial crimes and boosted national security, with the apprehension of a counterfeit ring in Kano and Nasarawa States, and recovery of foreign currencies on December 8, 2024.
 
Operatives at Gwale, Kano, acting on credible intelligence, arrested Nura Ibrahim, and discovered counterfeit currencies, which included the sum of N129,542,823,000,$3,366,000, 51,970 CFA franc and N1,443,000. 
 
Force spokesman, ACP Muyiwa Adejobi, who made the disclosure, added that the Inspector-General of Police (IGP), Kayode Egbetokun, had established the Police Anti-Money Laundering Units, appointing, a renowned financial expert, CP Hyacinth Azuka Edozie, with officers of the rank of Chief Superintendents of Police (CSPs) to lead the units in all State Criminal Investigation Departments (SCIDs) across the federation.
 
According to him, the initiative is a strategic move to strengthen the police’s role in national security, specifically in combating financial crimes.