The Ondo State Police Command has uncovered a suspected counterfeit currency production site in Odigbo Local Government Area, arresting one person and recovering three bags of suspected fake United States dollar notes.
The operation was carried out on October 29 at Kiniso Village, via Ajue, following an investigation into a complaint involving an alleged counterfeit dollar transaction.
The Police Public Relations Officer, DSP Abayomi Jimoh, disclosed the development in a statement issued on Tuesday.
According to the police, the complainant, identified as Yusuf Nasiru, reported the incident on October 28, alleging that two men, Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him at his shop on October 25 to exchange US dollars for their naira equivalent.
Jimoh said Nasiru handed over $6,000, reportedly worth approximately ₦8.6 million, to the two men.
However, instead of completing the transaction, the suspects allegedly returned the dollar notes, claiming they did not have enough money to pay the naira equivalent, before leaving the shop.
The complainant reportedly discovered upon closer examination that the notes returned to him were counterfeit and subsequently reported the matter to the police.
Following the complaint, operatives from the Okitipupa Divisional Police Headquarters launched an investigation and used intelligence gathering and technical tracking to trace one of the suspects, Peter Desmond, to Kiniso Village.
Acting on information provided by residents, the operatives raided the suspected hideout on October 29.
“During the operation, one suspect was arrested, while other occupants of the premises reportedly escaped through the perimeter fence,” the statement said.
A search of the premises reportedly led to the recovery of three bags containing suspected counterfeit US dollar notes, alongside a small wooden box.
The police said the recovered items had been taken into custody as exhibits, adding that the arrested suspect had provided useful information to assist the ongoing investigation.
Meanwhile, the Commissioner of Police in Ondo State, CP Felix Ohagwu, has ordered an intensified investigation to identify and apprehend other individuals allegedly connected to the operation.
The command said investigators were working to establish the extent of the suspected counterfeit currency network and ensure that anyone found culpable was brought to justice.
It also warned residents against engaging in suspicious foreign currency transactions with unverified individuals or accepting seemingly attractive exchange offers outside recognised and authorised channels.
The police urged members of the public to authenticate foreign currencies before accepting them and report suspicious activities to the nearest police station.
The command reiterated its commitment to tackling financial crimes and other criminal activities across the state.
