A woman is among a four-man fake currency syndicate arrested by the the Economic and Financial Crimes Commission, EFCC on December 8th.

The woman, Princess Fashanu Adesina and her partners, John Ogbaje, Emmanuel Bassey and Chidi Nwanchukwu were nabbed by the EFCC at Swiss Pearl Continental Hotel, Koforidua Street, in the Wuse 2 Area of Abuja with $427,400 fake United States Dollars.

The arrest was carried following verified intelligence, in a joint operation by the EFCC with operatives of the National Drug Law Enforcement Agency, NDLEA.

A statement issued on Tuesday by the EFCC Spokesman, Wilson Uwujaren, said the syndicate specialises in counterfeiting foreign currencies, especially the dollar, for sale to unsuspecting members of the public.

According to Uwujaren, the suspects have volunteered useful statements which eventually led to the arrest of the syndicate’s kingpin, one Chief Douglas Mbonu on Tuesday.

He warned members of the public to be wary of the activities of fraud syndicates , who masquerade as Bureau de Change operators, seeking to exploit what he called “the desperation of some citizens sourcing for forex for various purposes to defraud them of their hard-earned monies.”

He adviced the citizens to source their forex from commercial banks in line with the directives of the Central Bank of Nigeria to minimize the risk of exposure to fraud syndicates.