We Smuggle & Circulate Fake Nigerian Currencies - Confessions of an International Fraudster

A syndicate of international fraudsters who specialize in the production and circulation of fake Nigeria currencies was recently arrested by the police in Maiduguri, Borno State.

The Nigerian Police in Maiduguri, Borno state capital, yesterday, arrested a syndicate of international fraudsters who specialize in the production and circulation of fake Nigeria currencies.

The arrested fake currency kingpin, Adam Ajid, revealed that the counterfeits were produced in Cameroon and smuggled into Nigeria. He also confessed that a bundle of 100 notes of fake N1000 costs N11,000 while he sells them to fraudsters at the cost of N16,000.

The Commissioner of Police, Aderemi Opadokun, said the suspect and other fraudsters arrested at different occasions were nabbed after a tip-off from informants.

"Borno state police has recently embarked on proactive measures of anti-crime patrol and intelligence gathering that paid off with the arrest of a notorious fake currency dealer in the person of one Adam Ajid who lives here in Fulatari Ward, Maiduguri, who is known for defrauding members of the public with fake currency."

The police boss said the ‎arrested fraudster was found with N4.5 million worth of fake currency all in crispy N1000 notes.

“Following a tip off, our Special Anti Robbery Squad, personnel arrested the suspect on 14/07/2015 with bundles of one thousand naira notes in three different ‎serial numbers to the tune of N4,515,000.00k strongly suspected to be fake.”

Mr. Ajid said he became an agent for his suppliers from Cameroun Republic, after becoming bankrupt in his business due to the ongoing Boko Haram insurgency.

“I am an electronic merchant, buying wholesales from Alaba market and selling in Cameroon. It was when my business went down that I decided to join the business of fake money sales. I was introduced into it by one Mallam Abdullahi who is a Cameroonian that I knew during ‎my business trips to Cameroon. And since after then, he used to sell a bundle of N1000 note to me at the rate of N11,000 and I sell them to known fraudsters at the rate of N16,000″.