Home » Sh300m fake currency abandoned on roadside in Nairobi

Sh300m fake currency abandoned on roadside in Nairobi

Mystery surrounds the identity of men who dropped a box full of fake US dollars on the roadside in Nairobi.

The fake US dollars and Euros, spotted near Coptic Hospital along Ngong Road were in different stages of manufacturing.
Pedestrians using the feeder road spotted some of the papers splashed on the roadside and collected few before calling police on Sunday afternoon.
Police from Kilimani visited the scene and collected the papers. The officers established that $640,000 fake papers were ready for distribution to the market while $2.4million were in their final stage of formation.
There were also 2,350 fake Euros and 15 liters of washing chemicals in powder form.
Nairobi Police boss Philip Ndolo said they are yet to establish those behind the dumping of the fake currencies.

“Investigations are ongoing. No arrests have been made so far to enable us know the motive,” he said.

This is the latest discovery of fake currencies in the country in a series of incidents that paint a picture of Nairobi being the base for transnational fake cash.

In May this year, nine suspects were arrested in Kilimani area and fake Sh190 million ($1.9M) recovered from them.
This came two days after another group of seven was nabbed with fake Sh300million in a house in the same area.

Police investigations show counterfeit bank notes remain the top form of fraud for the increasingly growing mobile money and bank agents in Kenya.

The bank regulator had conducted a survey in 2017 that showed 97 percent of fraud faced by the agents involved fake notes.