The police said the suspect confessed to the crime and have recovered some fake naira notes from him.

The police in Enugu State, South-east Nigeria, say they will arraign a 24-year-old man for allegedly possessing and transacting in fake naira notes in the state.

The suspect, Mmaduabuchi Okonkwo, is a resident of Mkpologu in Emene, Enugu East Local Government Area of the state.

The police spokesperson in the state, Daniel Ndukwe, said in a statement on Tuesday that the suspect was arrested on 10 April at a bus stop along Abakaliki Road in the state.

Mr Ndukwe, a deputy superintendent of police, said the suspect was arrested by police operatives serving in Abakaliki Road Police Divisional Headquarters with the support of residents in the area.

"A preliminary investigation reveals that the suspect boarded a minibus from New Haven Junction to Old IMT Bus Stop, Enugu, and gave the driver one of the counterfeited notes.

"The driver, however, scrutinised and observed that the currency was fake, thereby raising an alarm that led to the suspect's arrest," he said.

The spokesperson said police operatives recovered fake naira notes worth N40,000 from the suspect.

"Upon interrogation, the suspect confessed to having paid the sum of N25,000 genuine Naira notes to his cohort at large for the counterfeited Naira notes worth N50,000," Mr Ndukwe stated.

He said the suspect further confessed to having spent N10,000 out of the fake notes, remaining the N40,000 that was recovered from him.

"The suspect will be arraigned and prosecuted once investigations are concluded," the police spokesperson added.

The Commissioner of Police in Enugu State, Kanayo Uzuegbu, has described the suspect's act as a "premeditated act of economic sabotage, aimed at inflicting social, psychological, and economic pains on fellow citizens," Mr Ndukwe said.

Mr Uzuegbu urged Nigerians to remain law-abiding and exercise caution while transacting with anyone they suspect to be in possession of fake currencies.