Instead of popping champagne on News Year's Day, a 40-year-old man was having his wrists handcuffed after being arrested for being in possession of counterfeit money in Limpopo.

The 40-year-old man was arrested on January 1 at a petrol station in Makhado.

Police spokesperson Colonel Moatshe Ngoepe said the man had been caught in possession of fake rand totalling R179 200 and counterfeit dollars totalling $149 300 (about R2.7m).

Officers pounced after receiving a tip-off that a vehicle travelling from Madombidzha village to Makhado was carrying counterfeit cash.

#sapsLIM In Makhado outside Thohoyandou, a man (40) was arrested for possession of counterfeit money at local filling station following #TipOff NPhttps://t.co/M9Oab1gARa pic.twitter.com/oxX6Srpyp0

— SA Police Service (@SAPoliceService) January 3, 2019

Ngoepe said the man's Mercedes-Benz was also seized.

The suspect is expected to appear in court on Thursday.

Ngoepe said they were investigating whether the 40-year-old was working with accomplices and for what he intended to use the counterfeit money.

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News24.com | The bucks stop here! Limpopo man bust with fake dollars\, rands of more than R2m

The bucks stop here! Limpopo man bust with fake dollars, rands of more than R2m