‘Money doubler’ charged with possession of fake currencies

A labourer, who allegedly claimed to be able to reproduce ‎Naira and West African CFA francs, was on Tuesday brought before an

Igbosere Magistrates’ Court, Lagos.

Dennis Njoku, 38, of No. 26 Agowa Street, Bariga, is standing trial on a two-count charge of fraud and unlawful possession of counterfeit currencies.

Police prosecutor Nosa Uhumwangho said Njoku was found with the notes by the police at Oshodi ‘sometime in the month of January 2017.’

He alleged that Njoku, with intent to defraud, represented himself to his victims that he was capable of producing N1,000 notes and 200 pieces of fake N500 notes.

The defendant was also accused of claiming that he could produce 100 pieces of N200 notes, 100 Benin Republic CFA coins and 10 CFA coins, by applying a chemical substance to pieces of paper or other materials.

The court also heard that the defendant had in his possession samples of the fake currencies, which were suspected to have been unlawfully obtained.

According to Uhumwangho, the offences were punishable under Sections 316 (a) and 329 of the Criminal Laws of Lagos State, 2015.

Njoku pleaded not guilty.

Magistrate Wahab Balogun granted him N1million bail with two sureties in the like sum, one of whom must be a blood relation.

He adjourned till August 17.