Four Nabbed in Lira Over Counterfeit UGX 3 Million Currency Racket

LCC TV NEWS

LIRA CITY, UGANDA – Security operatives have arrested four individuals in a coordinated intelligence-led operation in Lira City, seizing counterfeit banknotes valued at UGX 3 million and a cache of materials believed to be intended for the mass production of fake currency.

The joint operation, conducted by the Uganda Police Force and the Uganda People’s Defence Forces (UPDF) on Saturday afternoon, targeted a suspected counterfeiting syndicate operating within the city center.

According to the North Kyoga Regional Police Spokesperson, SP Patrick Jimmy Okema, the raid took place at approximately 4:00 PM at Agenda 501 Hotel, located in Ireda Agali Cell, Ireda East Ward, Lira City East Division. The operation was the culmination of sustained surveillance and intelligence gathering regarding illicit financial activities in the region.

The suspects, now in police custody, have been identified as Magambo Bashir, 55, a resident of California Village in Kyankende Sub-county, Kiryandongo District; Epieu David, 43, from Amuria District; Ebulu Emmanuel, 46, of Kapelebyong District; and Omuria Abdu, 40, from Soroti City.

Authorities confirmed that a fifth individual, who was initially detained alongside the group at the scene, is currently cooperating with investigators as a key informant. Police declined to disclose the nature of his cooperation, citing the ongoing sensitivity of the probe.

During the search of the hotel premises, security officers recovered a substantial amount of suspected counterfeit currency, specifically UGX 50,000 denomination notes with an estimated total face value of UGX 3 million. Additionally, investigators seized assorted chemicals and specialized materials suspected to be instrumental in the manufacturing of fake banknotes.

SP Okema stated that detectives meticulously documented the scene, collected witness statements, and secured the exhibits to build a watertight case against the accused. The four suspects are currently detained pending further investigations.

"We are following strong leads regarding the origin and intended distribution network of these fake notes," said SP Okema. "These arrests are a significant blow to the financial crime networks operating in the region. We urge the public to remain vigilant and to verify the authenticity of currency they receive."

The police spokesperson reiterated the call for citizens to report any information concerning counterfeit money syndicates to the nearest police station, emphasizing that collaboration between the public and security agencies is critical to combating financial fraud and protecting the integrity of the national currency.