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Police arrest 55-year-old fake currency dealer


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Police in Lagos have arrested a middle aged man suspected to be a dealer in fake currencies including hard currencies.

The suspect, Raymond Fashakin, was arrested by the men of X-Squad attached to the headquarters of the Lagos State Police Command.

He was arrested on January 26, 2014 following information received by the police that a man operates with fake currencies in Alade Market, Ikeja.

It was alleged that the man specializes in printing of fake currencies including Dollars, Pounds Sterling, CFA and a host of others.

The 55-year-old suspect was on Wednesday paraded by the spokesperson of the Lagos State Police Command, Ngozi Braide, a Deputy Superintendent of Police (DSP).

He confessed to journalists that it was an Alhaji who gave him the fake Dollars that were recovered from him.

“It was to be used for printing of T/ shirts for sale. It was Yusuf that introduced me to it. I am 55 years old”, he said.

Braide said the fake Dollars recovered from the suspect when converted was N2.5 million equivalents.

The suspect claimed that he and the Alhaji who introduced him to the deal were friends for over 25 years but lost contact for about 15 years only to meet him late last year and they started business together as he is into printing business.

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