SaharaReporters reports that the Lagos zonal office of the Economic and Financial Crimes Commission (EFCC), says it has commenced investigation into the alleged case of conspiracy and currency counterfeiting levelled against three suspects.

This was contained in a press release issued by the EFCC’s Head of Media and Publicity, Wilson Uwujaren on Wednesday.

According to the statement, the suspects, Sylvanus Ireka Ifechukwu, Patrick Chima Ibiam and Ajimijere Mathias Adegbenro were arrested by the Nigeria Police Force Intelligence Bureau, Force Headquarters, Obalende, Lagos on April 30 and subsequently handed over to the EFCC for further investigation and prosecution.

It was alleged that the suspects, who are into currency counterfeiting have a network spread across the globe.

“Investigation revealed that the suspects, whose operational base is located in Brazil, allegedly produce fake foreign currencies such as US dollars, British pounds sterling and euros and source for buyers at strategic locations including hotels, Bureau de Change offices and social gatherings within the Lagos metropolis.

“Upon their arrest, some incriminating materials were recovered from them. The suspects will soon be charged to court,” the statement partly read.