Man Who Designs, Prints and Sells Fake Dollar Notes to Nigerians for 10 Years Arrested in Nassarawa

• Two Nigerian have been arrested a member for selling fake dollar notes to unsuspecting Nigerians
• The men have been operating for over 10 years in the street of Nassarawa making millions
• Security agencies got a hint of their deals and decided to play in as a customer to nab the suspects

The Nigeria Security and Civil Defence Corps (NSCDC) Operatives have arrested Ya'u Muhammed, 65, and Lamido Usman, 29, with fake $15,400.

According to the NSCDC, Muhammed and Usman have been in the business of selling fake dollar notes for over 10 years, making millions.

There were arrested at ‘Heart Plaza’, Mararaba, underbridge in Karu Local Government Area of Nasarawa State, Punch reports.

Vanguard reports that NSCDC said they 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.

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According to DCC Olusola Odumosu, NCDC Director of Public Relations at the NSCDC headquarters, 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.

The statement reads:

“Two members of the syndicate arrested were found in possession of a total of $15,400 fake US Dollars. They are Ya’u Muhammed ‘M’, 65 years old, from Warji LGA, Bauchi State and Lamido Usman ‘M’ age 29yrs, La’u LGA from Taraba state.

“Other items recovered from the suspects includes, one new generational ATM card, one screw driver and original $100 dollar note.

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."

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Naira starts the new week with a massive fall against US dollar

Meanwhile, Nigeria's CBN has another headache as Naira lost a huge chunk of its value recovered at the black market last week.

Legit.ng revealed that Many Nigerians who went to the black market to get FX ON Monday were surprised by the sudden change as Naira exchanged to the dollar above N750.

Experts have reacted to the current state of the market while speaking on the impact on Nigerians and companies.

Source: Legit.ng