Nairobi police have recovered about Sh300 million fake foreign currency ihidden n the bushes alongNgong Road.
Regional police commander Philip Ndolo said a passerby notified the officers on Sunday after he came across a suspicious box in the bushes near Coptic Hospital.
Speaking to the Sare on phone on Monday, Ndolo said the box contained fake US dollars and euros.
“The passerby didn't know its contents, it could have been a bomb,” Ndolo said.
The fake currency was reported at Kilimani police station.
It was at different stages of printing and processing.
About $640,000 fake notes were ready for distribution to the market while $2.4 million were in their final stage of processing. Police found €2,350 and 15 litres of washing chemicals in powder form.
Ndolo said no one had been arrested.
The fake money was turned over to DCI for further investigations.
The discovery as the latest in a series of counterfeit finds that depictNairobi as the base for transnational fake cash.
In May, nine suspects were arrested in Kilimani and fake Sh190 million ($1.9m) recovered.
This came two days after another group of seven was arrested with fake Sh300 million in a house in the same area.
Police said counterfeit banknotes remain the top form of fraud for the increasingly growing mobile money and bank agents in Kenya.
In its annual report for the period ending June 2017, the Centra Bank of Kenya acknowledged the possibility of a transnational fake currency ring in Nairobi.
CBK and other East African Community central banks met with the Eastern Africa Police Chiefs Cooperation Organisation September 2016 to develop strategies to strengthen the fight against counterfeit crime.
In 2017 a survey by the bank regulator showed 97 per cent of fraud involved fake notes.
The February 27 discovery of fake foreign cash amounting to Sh32 billion in a house in Ruiru town was the biggest find that followed a series of cases in the past few years.
Edited by R.Wamochie
