Operatives of the Economic and Financial Crimes Commission have arrested a 51-year-old father of 10, Akilu Salisu, alongside two other suspects over their alleged involvement in the circulation of counterfeit foreign currencies in Kwara State.
The other suspects were identified as Umar Mikailu Shuaibu, a self-acclaimed cleric based in Kano State, and Salisu Nura from Jigawa State.
According to a statement issued by the EFCC spokesperson, Dele Oyewale, Nura and Shuaibu were initially apprehended by operatives of the National Drug Law Enforcement Agency during a stop-and-search operation on January 27, 2026.
They were later transferred to the EFCC for further investigation.
During the operation, officials reportedly recovered 435 counterfeit $100 notes and 378 counterfeit £50 notes from Nura.
Preliminary findings revealed that the fake currencies were meant to be delivered to Shuaibu, who was allegedly acting as an intermediary, while Salisu was identified as the final recipient in the distribution chain.
Inside Kwara:
Bandits Attack Kwara Church, Abduct Worshippers
Armed Bandits Abduct Female Passengers in Kwara
Kwara: Man Locked Inside Hotel Room by Sex Worker Dies in FireIlorin, Kwara State
How police tortured my son to death – Kwara Family
Kwara varsity reacts to victim of police killing
Two Arrested in Kwara for Defrauding Job Seekers of ₦2.9 Million
Further investigations also uncovered suspicious transactions exceeding ₦5 million in Shuaibu’s account on a digital payment platform. Authorities said he failed to provide a satisfactory explanation for the source.
The anti-graft agency disclosed that the suspects would be arraigned in court upon the conclusion of investigations.
The EFCC reiterated that currency counterfeiting remains a serious offence in Nigeria, warning that it undermines economic stability and fuels other financial crimes such as fraud and money laundering.
The commission added that it would continue to intensify efforts, in collaboration with other agencies, to combat financial crimes and safeguard the nation’s financial system.
About the Author
