Police smash massive counterfeiting network

Central African police dismantled a counterfeiting network in Bangui, seized 47 million CFA francs in fake banknotes and arrested three main suspects.

Bangui, the capital Central African Republicis facing a worrying increase in the use of counterfeit banknotes. Economic operators and ordinary citizens have become victims, highlighting a growing problem that could destabilize the country’s entire monetary system. The authorities are concerned that the proliferation of counterfeit banknotes will have a serious impact on the national economy, which has already been weakened by various crises.

Three men jailed

On Wednesday, August 7, the Central African police carried out a major operation to dismantle a network of counterfeit banknote manufacturers. During the operation, a staggering amount of counterfeit banknotes worth 47 million CFA francs (about 73,000 euros) was seized. Three people associated with the diamond buying and selling office were arrested. They include the company’s director Da Sylva Molo, his brother Yaya and the company’s salesman Abdoulaye Aboubakar. These arrests mark a key step in the fight against this economic scourge.

Allegations and denials

Faced with the allegations, da Silva Moro categorically denied any involvement, saying that while in Dubai he had wired $100,000 to his brother Yaya in Bangui for trade. He said he was surprised to discover that the money was actually counterfeit notes, which he discovered when he was trying to store fuel.

Meanwhile, Yaya also denied the allegations. However, Abdoulaye Abubakar admitted his role in the importation of counterfeit notes, revealing that they were made in Douala, Cameroon on the orders of the Moro brothers. According to him, he was going through a tough time and had no other choice.

Cross-border operations

Abdoulaye Abubakar’s testimony revealed the transnational dimension of the incident. The counterfeit notes were produced in neighbouring Cameroon by a Nigerian national who provided $5 million for the illegal work. The international dimension of the case further complicated the investigation and highlighted the need for greater regional cooperation to combat this type of crime.

The head of the city’s security department, Eric Dangala, called on all Central Africans to remain vigilant. He insisted that it was important for citizens to know the banknotes they handle and report any anomalies to the competent authorities. The police also plan to launch an awareness campaign to limit the circulation of counterfeit banknotes and stop this phenomenon before it causes irreparable damage to the country’s economy.