EFCC Arrests Two For Trading Counterfeits Currencies


efcc arrests two for trading counterfeit

On Tuesday, the Economic and Financial Crime Commission (EFCC) reported Moses  Adukwu,33, and Iorlumun Reuben, 27, were arrested in Benue for money laundering exchange rate and fraud.

Its Zonal Head, Public Affairs Department, Mrs Nwanyinma Okeanu, told newsmen in Makurdi that the case was transferred to the commission by the Benue Department of State Security Service (DSS).

Okeanu explained that Reuben, who hails from Vandeikya Local Government Area of Benue, was first arrested by DSS officials who rescued him from being lynched at a public place.

“He had purchased airtime from a woman who noticed that Reuben had paid her with fake currency and alerted people around”, NAN quoted her as saying.

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“When interrogated, Reuben stated that he was introduced to the business by another man still at large who also introduced him to a supplier called Moses Adukwu.

“He also confessed to still be in possession of about N18,000 fake currencies which he was unable to spend before his arrest.”

According to the Spokesperson, Moses Adukwu, a former bus driver, hails from Olamaboro Local Government Area of Kogi and joined the counterfeiting business in 2017.

“Adukwu alleged that he was introduced to the business by one Mohammed, still at large. He also stated that he had visited Lagos to get his consignment but his meeting with the supplier was conducted under the Oshodi bridge.

“Subsequently, he paid the cash equivalent into the supplier’s account while his consignment of fake currencies was sent to him by waybill process.”

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During questioning, Adukwu disclosed that he had about N400,000 fake naira notes in four packets for N50,000 actual currency and then sold every fake currency bundle for N25,000 true currency.

“The EFCC is assisted by Iorlumun Reuben and Moses Adukwu in their investigations and will quickly be brought to trial,” she told the press.


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