According to Ndukwe, Igwebuike amassed fake naira notes amounting to N362,000, employing a deceptive tactic where he used the counterfeit money to buy goods of lesser value from traders. Subsequently, he would receive genuine change without arousing suspicion.

The suspect's activities came to light following a tip-off received by operatives in the Awkunanaw division, prompting swift action that led to Igwebuike's arrest.

In an official statement, Ndukwe stated, "Police operatives serving in Awkunanaw Division of the Enugu State Command, acting on a tip-off, on 19/12/2023 at about 6 p.m., arrested a male suspect, one Chukwuebuka Igwebuike aged 37, at Afor Market, Garki Awkunanaw, Enugu, and recovered from him suspected counterfeit N1,000 notes, totalling N362,000."

The spokesperson added that the suspect has admitted to the crime and will face legal proceedings once the investigation is completed.

"Preliminary investigation proves that the suspect confessed to the crime, stating that he used the fake one thousand Naira notes to buy items of small prices and get change for genuine smaller denominations. He shall be arraigned in court and prosecuted accordingly once ongoing investigations are concluded."

Commissioner of Police, CP Kanayo Uzuegbu, has urged citizens to exercise vigilance and caution during this festive season, especially when dealing with various denominations of Nigerian Naira.