In a move to strengthen the fight against financial crimes and terrorism financing, the Inspector-General of Police (IGP), Kayode Adeolu Egbetokun, has inaugurated the Police Anti-Money Laundering Units across all State Criminal Investigation Departments (SCIDs) in Nigeria.
This strategic initiative aims to bolster the Nigerian Police Force’s capacity to combat economic sabotage and protect the nation’s financial system from criminal exploitation.
To lead this groundbreaking effort, Egbetokun has appointed CP Hyacinth Azuka Edozie, a seasoned financial expert, alongside officers of the rank of Chief Superintendents of Police (CSPs) to oversee operations nationwide.
The initiative aligns with the Force’s commitment to safeguarding national security by preventing illicit financial activities that often fund terrorism and other criminal enterprises.
Demonstrating the effectiveness of this new directive, the Police recently made significant arrests in Kano and Nasarawa States.
On December 8, 2024, police operatives in Gwale, Kano State, acting on credible intelligence, apprehended Nura Ibrahim with counterfeit currencies worth ₦129,542,823,000.
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Additionally, $3,366,000 in counterfeit US Dollars, ₣51,970 in counterfeit CFA Franc and ₦1,443,000 in counterfeit Naira were found with the culprit.
Further investigations led to the arrest of accomplices Muhammed Muntari and Usman Abdullahi.
During Nasarawa Operation, On January 13, 2025, 53-year-old Ephraim Barde was arrested in New Karu of the state with counterfeit U.S. dollar notes totalling $160,000.
Investigations are ongoing to uncover the full extent of his criminal network.
These arrests mark a significant victory in the fight against financial crimes and underscore the Police’s determination to eliminate threats to Nigeria’s financial system.
The IGP has urged citizens to actively contribute to national security by reporting suspicious activities related to counterfeit currency and other financial crimes.
Public vigilance and collaboration with law enforcement agencies are essential in safeguarding the nation.
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