The Ondo State Police Command has raided a suspected counterfeit currency production centre in Odigbo Local Government Area, arresting one person and recovering three bags of suspected fake US dollar notes.
The operation was carried out on October 29 at Kiniso Village, near Ajue, following a complaint by a man who allegedly received counterfeit dollars during a currency exchange transaction.
The command’s Public Relations Officer, DSP Abayomi Jimoh, disclosed the development in a statement issued on Tuesday.
Jimoh said the complainant, identified as Yusuf Nasiru, reported to the police on October 28 that two men, Peter Desmond and Olami Toro, both residents of Ode-Irele, had approached him at his shop on October 25 to exchange dollars for their naira equivalent.
Nasiru reportedly handed the men $6,000, estimated at about N8.6m, but they later returned the notes, claiming they did not have enough money to complete the transaction.
The complainant subsequently discovered that the dollars returned to him were counterfeit and reported the matter to the police.
Following the complaint, operatives from the Okitipupa Divisional Police Headquarters launched an investigation. Through intelligence gathering and technical tracking, they traced one of the suspects, Desmond, to Kiniso Village.
Police said the operatives raided the suspected hideout with information provided by residents of the community.
One suspect was arrested during the operation, while other occupants of the premises reportedly escaped by jumping over the perimeter fence.
A search of the building led to the recovery of three bags containing suspected counterfeit US dollar notes and a small wooden box. The items were taken into police custody as exhibits.
Jimoh said the arrested suspect had provided useful information to investigators, who were working to establish the full extent of the operation.
The Commissioner of Police in Ondo State, CP Felix Ohagwu, has ordered an expanded investigation to identify and apprehend other people allegedly linked to the suspected counterfeiting operation.
The command said it would pursue all those found to be involved and ensure they face the law.
Police also warned residents against accepting suspicious foreign currency offers or conducting exchange transactions with unverified individuals outside recognized and authorized channels.
Members of the public were advised to check the authenticity of foreign notes before accepting them and report suspicious activities to the nearest police station.
The command reaffirmed its commitment to tackling financial crimes and other criminal activities across the state.
