Police in Maiduguri has discovered illegal business based in Cameroon highly dangerous for Borno state economy and arrestsed several suspected criminals.
1000 naira fake notes are still circulating in Borno state
Fake naira notes depot was discovered by police in Maiduguri. It turned out that those fake notes have been printed in Cameroon and then smuggled to Borno state, ruining its economy already heavily hit by the Boko Haram sect.
Fake notes of high quality which were very difficult to distinguish from the real ones have been distributed in the Borno state by Adam Ajid. Arrested leader of the fake currency smuggling chain told the police that he had to go into criminal activities because his legal business went bankrupt due to the on-going Boko Haram insurgency.
He also told that he was reselling bundles of hundred fake N1000 notes to the local fraudsters at the cost of N16000, while buying them from Cameroonian counterfeiters at the cost of N11000 thus having N5000 from each transaction. Hence the real value of each fake N1000 note was N110
Borno state police commissioner, Aderemi Opadokun, informed the general public that “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.”
He also added that N4.5 million of fake N1000 notes was discovered in the house of arrested suspect. Despite his arrest it is feared that a lot of fake notes distributed earlier is still circulating around Borno state.
A month earlier a factory where fake currencies of nairas, as well as pounds, euros, dollars and other foreign currencies were being produced has been found by officers of the the Oyo state police command.
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