The Inspector-General of Police, IGP, Kayode Egbetokun, has inaugurated Police Anti-Money Laundering Units.
He appointed financial expert Hyacinth Edozie, along with officers holding the rank of Chief Superintendents of Police (CSPs), to lead the units in all State Criminal Investigation Departments (SCIDs) nationwide.
Egbetokun described this initiative as a strategic measure to bolster the police’s role in national security, particularly in combating financial crimes.
He emphasised its significance in addressing the advanced methods employed by terrorist organizations and other criminal networks to finance their operations.
The IGP reaffirmed that the establishment of these units highlights the police force’s unwavering commitment to safeguarding national stability by preventing and detecting illicit financial activities.
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Additionally, he stated that the initiative strengthens the operational capacity of law enforcement agencies, particularly the Nigerian Financial Intelligence Unit (NFIU), in fulfilling its global oversight responsibilities to tackle security threats.
As part of this renewed focus, the IGP revealed recent successes in apprehending individuals involved in financial crimes.
On December 8, 2024, in Gwale, Kano, police operatives acting on credible intelligence arrested Nura Ibrahim and uncovered counterfeit currency worth N129.54 billion.
The breakdown included 3,366,000 in counterfeit US dollars, 51,970 in counterfeit CFA francs, and 1,443,000 in counterfeit Naira. This operation led to the subsequent arrests of accomplices Muhammed Muntari and Usman Abdullahi.
Similarly, on January 13, 2025, police operatives in New Karu, Nasarawa State, arrested a 53-year-old suspect, Ephraim Barde, in possession of $160,000 in counterfeit U.S. dollar notes.
Investigations are ongoing to uncover the full extent of Barde’s activities and identify other collaborators.
The IGP reiterated the police force’s commitment to combating financial crimes and ensuring a secure economic environment to enhance national security.
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He emphasised that the establishment of the Anti-Money Laundering Units is a crucial step in this direction.
He also urged citizens to actively support national security efforts by reporting suspicious activities related to counterfeit currency and financial crimes.
