Police arrest printers of over 100m fake currencies of naira, Euro, Dollars, Pounds, Cedes *Police Chief worries over economic impact on Nigeria, International communities

The Lagos State Police Command has arrested five men in connection
with the printing fake naira notes, including other foreign
denominations, running to over 100m.
Among the denominations is naira, Euro, dollars, pounds, Cedi, among others.
A visibly disturbed Commissioner of Police, Prince Umar Manko, at the
sight of the overwhelming and apparatus used in printing said sadly:
“They must have done much damage to the economy of Nigeria and other
countries."

They were arrested in a three bedroom flat, located at the Alagbado
area of Lagos State. When the flat was searched, the aforementioned
money was discovered.
Also recovered are; 22 printing machines, one cutting machine and the fake money
It was gathered that the officer in charge of Special Anti-robbery
Squad (SARS) SP, Abba Kyari, received information that a syndicate
which specialises in printing different fake notes of various
denomination, both in local and foreign currencies operates at house
6, Ogunlana Street, Alagbado, Lagos State.

Kyari led a team of operatives to the address, where surveillance was
carried out.
The covert operation paid off, leading to the arrest of the suspects
identified as Femi Jacob, Ramon Adeoye, Akeem Ayodabo, Isaka Usman and
Onyeka Ibe.
Upon interrogation, the suspects were said to have made confessional
statements, which led to the arrest of Isaka Usman and Akeem Ayobado
at the Ikorodu area of Lagos.
Investigations have since revealed that Akeem Ayobado specifically
rented the three bedroom flat solely for the purpose of running their
illicit business.
According to detectives, Onyeka Ibe usually comes from Anambra State
to buy some of the fake currencies from Akeem and cohorts, after which
he would take them to Anambra State to furtively distribute into the
society.
Apparently realising that there was no escape, Akeem sang like a bird.
He told the cops that he has many customers, who come from different
countries to buy the fake currencies from him and his gang. Some of
the countries he mentioned are: Republic of Benin, Ghana, Mali, Togo,
Liberia, Sierra Leone and others.