Egbetokun creates police anti-money laundering units to ‘combat financial crimes’

Kayode Egbetokun, inspector-general of police (IGP), has established the anti-money laundering units in the Nigeria Police Force (NPF) to combat financial crimes.

In a statement on Wednesday, Muyiwa Adejobi, force spokesperson, said the establishment of the units “underscores the force’s commitment to safeguarding national security by preventing and detecting illicit financial activities that could undermine the country’s stability”.

Adejobi said the IGP directed Hyacinth Edozie, a commissioner of police, and other officers of the rank of chief superintendents of police (CSPs) to lead the units in all state criminal investigation departments (SCIDs) across the country.

“This initiative is a strategic move to strengthen the police’s role in national security, specifically in combating financial crimes,” the statement reads.

“It is also critical in countering the sophisticated methods used by terrorist organisations and other criminal entities to finance their activities.

“The establishment underscores the force’s commitment to safeguarding national security by preventing and detecting illicit financial activities that could undermine the country’s stability.

“It also enhances the operational capacity of law enforcement agencies, especially the Nigerian Financial Intelligence Unit (NFIU) in furtherance of its global oversight functions, to address various security threats.

“The Nigeria Police Force remains resolute in its efforts to combat financial crimes and ensure a secure economic environment with a view to promoting national security for the safety of all Nigerians and residents.

“The establishment of the anti-money laundering units is a vital step in this mission.”

Agencies like the Economic and Financial Crimes Commission (EFCC) and NFIU are already handling issues pertaining to anti-money laundering in Nigeria.

SUSPECTS ARRESTED WITH FAKE CURRENCIES

In a related development, Adejobi said operatives in Kano and Nasarawa states arrested four suspects with counterfeit currencies.

He identified the suspects as Nuhu Ibrahim, Muhammed Muntari, Usman Abdullahi, and Ephraim Barde.

“On December 8, 2024, at Gwale, Kano, operatives, acting on credible intelligence, apprehended Nura Ibrahim and discovered counterfeit currency, which included the sum of N129,542,823,000 in counterfeit currencies, with a breakdown of 3,366,000 in counterfeit US dollars, 51,970 in counterfeit CFA franc, and 1,443,000 in counterfeit naira,” Adejobi said.

“The arrest led to further arrests of accomplices Muhammed Muntari and Usman Abdullahi.

“Similarly, on January 13, 2025, the Force arrested 53-year-old Ephraim Barde in New Karu, Nasarawa State, with counterfeit U.S. dollar notes totalling $160,000.”