Operatives of the Economic and Financial Crimes Commission have arrested three suspects in Ilorin over their alleged involvement in the circulation of counterfeit foreign currencies.
The suspects — Akilu Salisu, Umar Mikailu Shuaibu and Salisu Nura — were initially intercepted by officers of the National Drug Law Enforcement Agency during a routine stop-and-search operation on Jan. 27, 2026.
During the operation, security operatives reportedly recovered 435 counterfeit $100 notes and 378 counterfeit £50 notes from Nura, prompting further investigation and the handover of the suspects to the EFCC.
Preliminary findings indicate that the fake currencies were intended for distribution through a network in which Nura allegedly transported the notes, Shuaibu acted as an intermediary, and Salisu was identified as the intended final recipient.
Investigators also uncovered suspicious transactions exceeding N5 million linked to Shuaibu’s digital payment account, with the suspect yet to provide a satisfactory explanation for the inflows.
The commission confirmed that the suspects remain in custody and will be charged to court upon conclusion of investigations.
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