CEM REPORT, FINANCE | Following a covert operation, a fake dollar syndicate has been apprehended in the Karu Local Government Area of Nasarawa State.
The syndicate which is believed to be in operation for years before their apprehension specialises in the printing, sales and distribution of fake United States Dollar notes.
The operation was carried out by operatives of the Special Intelligence Squad (SIS) of the Commandant General (CG), Nigeria Security and Civil Defence Corps, (NSCDC).
Director, Public Relations at the NSCDC headquarters, DCC Olusola Odumosu, addressing journalists said the syndicate before their apprehension was operating around ‘Heart Plaza’, Main Karu Local Government Area of Nasarawa State.
He said the syndicate had swindled many individuals of millions of naira under the guise of black market operators exchanging Nigerian naira for US Dollars thereby issuing fake dollar notes to their unsuspecting victims.
Speaking on details of the operation, Odumosu said the suspects were smoked out of their hideout in a sting operation which saw personnel trying to exchange the sum of N250,000 for US dollars.
He added that two members of the syndicate arrested were found in possession of a total of $15,400 fake US Dollars. They are Ya’u Muhammed (male), 65 years old, from Warji LGA, Bauchi State and Lamido Usman (male), 29 years old, from La’u LGA from Taraba state.
Other items recovered from the suspects include one First Bank ATM card, one screwdriver and an original $100 note.
Additionally, he said the suspects are currently undergoing preliminary investigation after which they would be handed over alongside the exhibits to NSCDC Nasarawa State Command under whose jurisdiction the arrest took place for further action.