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Nigerian Anti-graft Agency, EFCC Arrests Two Suspected Currency Counterfeiters With Fake $270,000 In Abuja

October 21, 2022

The duo were arrested in Abuja.

The Anti-graft agency, Economic and Financial Crimes Commission, EFCC, has confirmed the arrest of two suspected currency counterfeiters, identified as Johnson Olumoyegun and Tanko Abubakar.

The duo were arrested in Abuja.

In Nigeria, it is against the law for any individual or establishment outside the Central Bank of Nigeria, to print money or be in possession of counterfeit notes. If you are caught and convicted of a counterfeiting crime, you may face up to five (5) years imprisonment with no option of a fine.


This was disclosed by EFCC via a tweet on Friday morning. The agency said fake $270,000 was found in the possession of the arrested suspects.

“EFCC Arrests Two Suspected Currency Counterfeiters with Fake $270,000 in Abuja.


“The Economic and Financial Crimes Commission, EFCC, has arrested two suspected currency counterfeiters: Johnson Olumoyegun and Tanko Abubakar, in Abuja,” the tweet stated.


In 2021, the Lagos zonal office of the EFCC said it had commenced an investigation into the alleged case of conspiracy and currency counterfeiting levelled against three suspects.

This was contained in a press release issued by the EFCC's Head of Media and Publicity, Wilson Uwujaren.

According to the statement, the suspects, Sylvanus 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 and subsequently handed over to the EFCC for further investigation and prosecution.

It was alleged that the suspects, who were into currency counterfeiting, had a network spread across the globe.