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EFCC nabs banker, 3 others for currency fraud in Kano
EFCC Operatives
Published By: Ayorinde Oluokun
By Ayorinde Oluokun/Abuja
A banker identified as Kamaluddeen Lawal and three businessmen have been arrested for enganging in disingenuous game of recycling and manipulating contents of Naira notes in Kano State.
The banker and his three accomplices identified as Ismail Ibrahim Ilu, Lamido Bala and Abba Mohammed were arrested by operatives of the Kano Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested
Dele Oyewale, the spokesperson for the EFCC in a statement said the suspects were arrested at Unity Road, Kantin Kwari market, Kano following credible Intelligence on the activities of some individuals suspected to be trafficking huge sums of money in cash.
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According to the statement, the suspects specialized in obtaining mutilated Naira notes from various banks with the sole purpose of removing a few notes from each bundle and depositing them in their bank accounts with a particular bank where their banker accomplice will receive the money as the original amount.
“The suspects were perpetrating the fraud by going to their respective banks and asking for a certain denomination (in this case N200 Notes) and carefully removing a few notes from each bundle. They would then take it to their accomplice at the bank who will collect the money and make entries as filled in the tellers without counting them on the agreement that they would later give him his share of the money they removed,” Oyewale said.
According to the statement, a total sum of N7,500,000 ( Seven Million, Five Hundred Thousand Naira) was recovered from the suspects at the time of their arrest.
EFCC said the suspects would be charged to court upon conclusion of investigations.
