The Economic and Financial Crime Commission has begun investigating a suspect, Usaini Ibrahim, who was arrested in Kano with counterfeit $212,200.
The commission, in a statement on Thursday, said operatives of the National Drug Law Enforcement Agency arrested Mr Ibrahim on September 3, along Maiduguri Road in Kano, after discovering the counterfeit currency.
The suspect was later handed over to the EFCC with the fake currency for further investigation and possible prosecution.
According to the anti-graft agency, the handover took place at the EFCC’s zonal office in Kano, where acting director Friday Ebelo received the suspect and the exhibits.
An NDLEA representative, Yahaya Labaran, lauded the agencies’ continued collaboration in efforts to protect Nigeria’s financial system.
Mr Ebelo reaffirmed EFCC’s commitment to addressing the circulation of fake currencies and financial crimes in the country, urging the public to remain vigilant.
“Such fake currencies coming into the economy do not paint a good picture of us,” he added.