Lagos — OPERAtives of the Special Anti-Robbery Squad, SARS, have smashed a syndicate which specialised in printing fake local and foreign currencies of different denominations and transporting same to other African countries.
Five suspected members of the syndicate who were paraded before newsmen, yesterday, at the Lagos State Police Command headquarters, Ikeja, confessed that their customers came all the way from Togo, Ghana, Liberia, Sierra-Leone and Benin Republic to purchase the fake currencies.
A bundle of 100 dollars, according to them, was sold for N3,000 while pounds was sold for N4,000 per bundle.
The Lagos State Commissioner of Police, Umar Manko, said during the parade, that a total of 25 printing machines, one cutting machine and over N1million fake currencies of Naira, Dollars, Pounds , Euros and cedis, in different denominations, were recovered from the suspect's three bedroom apartment .
He explained that one of the suspects, Jacob Femi, was arrested on a tip-off and during a search in his apartment on Ogulana Street, Alagbado, eight printing machines and a large quantity of fake naira notes in different denominations were recovered.