Police in Maiduguri have cracked down on an international syndicate that specialises in printing and circulating of fake N1,000 note in Borno and neighbouring states.. They also arrested the leader of the group, Adam Ajid, and his other members, whose business associates were said to be in Cameroon. Their fake naira notes depot was also discovered by police in Maiduguri. Ajid said that the fake notes were being printed in Cameroon and then smuggled to Borno State. Ajid told the Police that he was involved in the fake notes which were very difficult to distinguish from the real ones because his legal business collapsed due to the ongoing Boko Haram insurgency. He also said that he was reselling bundles of hundred fake N1,000 notes to the local fraudsters at the cost of N16,000, while buying them from Cameroonian counterfeiters at the cost of N11,000 thus having N5000 from each transaction. Hence the real value of each fake N1,000 note was N110. Borno State police Commissioner, Aderemi Opadokun, informed the public that “Borno State police recently embarked on proactive measures of anti-crime patrol and intelligence gathering that paid off with the arrest of a notorious fake currency dealer, Adam Ajid, who lives 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 were discovered in the house of the 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 was found by officers of the the Oyo State police comma


dailyindependentnig.com/2015/07/fake-naira-floods-borno-via-cameroon/


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