Intelligence picked up by the Enquirer newspaper indicates that a syndicate dealing in fake currency and operating from Nigerian has entered Ghana. The modus operandi of the syndicate is that they stash huge amounts of money in various currencies in suiting material to outwit security agents at the entry and exit points. The Enquirer can confirm without any fear of contradiction that the syndicate uses Nigerian buses that ply the Accra-Lagos route. The circulation of fake currency, especially US dollars and higher Ghana cedis denominations, is presently on the ascendancy. The Enquirer gathered that the syndicate is able to splash the fake currencies, with the connivance of those who operate the ‘black market’ in currency exchange. The unsuspecting public exchange good currency for the counterfeit. Areas that the fake currencies are very common in Accra are the Aflao station at Tudi, Cowlane and Nima, all in Accra. The syndicate is even suspected to be in league with some banks where the fake currencies are deposited and in return withdraw genuine currencies. The Enquirer learnt that the Nigerians sell fake $1,000.00 to the black marketers for $400.00 while fake GH¢50million goes for GH¢20million. The Enquirer upon further investigation gathered that the counterfeit currencies are graded between one and three. In fact it would take an expert to identify a first grade fake $100.00 from the good one and so are the Ghanaian denominations. The Enquirer learnt that various night clubs and amusement centers in the city are not having things easy, as the Nigerians pose as big time business executives and spend the fake currencies. According to the intelligence, the syndicate does not meet any resistance at the entry points, as it is able to buy its way by bribing security officials at both the Togo and Ghana points. The Ghanaian counterparts of the syndicate go underground, as soon as they are able to swindle big businesspeople with fake currencies. Meanwhile, the Bureau of National Investigations (BNI) is at the heels of some Ghanaian conspirators of the Nigerians. A source at the BNI told The Enquirer that some four persons were recently arrested at a spot on the Mallam Highway in Accra not long ago with huge quantities of fake dollars and GH¢50.00. The BNI source, however, refused to mention the names of the four suspects, as investigations was still going on, but confirmed that it is very difficult to distinguish between the first grade fake currency and a good one. According to the source, bags fully loaded with fake Ghana cedis were found on the suspects during the time of the arrest. Source: The Enquirer/Ghana