Fake dollar merchants have been arrested by the Nigerian Police Force.

According to a report by Vanguard published on Thursday, August 9, 2018, George Osagie and Makinde Kudus, were caught by the law and have confessed to the crimes as a means of their livelihood.

The Lagos Commissioner of Police, Imohimi Edgal, confirmed this saying, “On July 28, information was received from members of the public that there was a group of persons going round the metropolis, defrauding innocent citizens off their hard earned money, promising to double it through magical means."

He continues that, "Based on the information, operatives from the Federal Anti-Robbery Squad, FSARS Ikeja and the Command operatives swung into action and arrested the suspected fraudsters at Nglasia Hotel, Ilasa. On interrogation, it was discovered that the suspects defrauded victims of huge sums of money.”

Also, one of the members, Osaro, a father of three, who plays 'beneficiary' to unsuspecting victims who think he is evidence that the scheme works says that he joined the gang last year after he also fell victim and joined the gang to retrieve his money.

He says, "I found myself following them to a house where they showed me a breifcase containing various foreign currencies. They succeeded in convincing me to part with N300,000. The money was meant to purchase more chemicals to wash more money. I later realised that I had been defrauded. To retrieve my money, I was asked to join the gang."

Describing his role to Vanguard, he says, "My role is to act as a beneficiary in front of any would be victim. This is to convince the victim that the deal is genuine and not fake. I get a percentage in any successful deal."

Further reports claim Victor Awoniyi, Taiwo Kayode and Adebisi Adebayo were all duped of a combined N5,800,000.