By Bukola Olamona
The Inspector-General of Police, Dr Kayode Egbetokun, has inaugurated Anti-Money Laundering Units within the Nigeria Police Force as part of an intensified effort to tackle economic sabotage.
These specialised units, headed by Chief Superintendents of Police, will operate in State Criminal Investigation Departments (SCIDs) across the country, under the guidance of financial expert CP Hyacinth Edozie.
According to Dr Egbetokun, the initiative is designed to target terrorism financing and other financial crimes that threaten Nigeria’s economic stability. The move also aligns with the objectives of the Nigerian Financial Intelligence Unit (NFIU) in identifying and dismantling illicit financial networks.
According to a statement issued by Force Public Relation Officer, ACP Olumuyiwa Adejobi and made available to The Hope, the IGP disclosed that the units had already made significant progress in curbing financial crimes.
“On December 8, 2024, in Kano, operatives arrested Nura Ibrahim in Gwale with counterfeit currencies totalling over N129 billion. The fake notes included $3.3 million in U.S. currency, 51,970 CFA francs, and N1.4 million in counterfeit naira.
“Further investigations led to the arrest of two accomplices, Muhammed Muntari and Usman Abdullahi,” the statement read.
In another development, officers arrested 53-year-old Ephraim Barde in New Karu, Nasarawa State, on January 13, 2025, with $160,000 in counterfeit U.S. dollars. Investigations are ongoing to identify his accomplices and the scale of his criminal operations.
Dr Egbetokun reaffirmed the Force’s dedication to tackling financial crimes, stressing the need for a secure economic environment to uphold national stability. He urged Nigerians to report suspicious activities related to counterfeit currencies and other financial offences to support the Police’s efforts.
This initiative underscores the Nigeria Police Force’s commitment to cracking down on economic sabotage and ensuring national security.