…Recover three bags of counterfeit notes
By Duchess Ifeoluwa
Ondo State Police Command has uncovered a suspected counterfeit United States dollar printing operation in Kiniso Village, near Ajue, in Odigbo Local Government Area, arresting one suspect and recovering three bags of suspected fake dollar notes.
Nigerian Monitor gathered that the operation followed a complaint lodged on October 28, 2026, by one Yusuf Nasiru, a resident of Sabo, Okitipupa, who alleged that two men had defrauded him of $6,000 in a purported foreign exchange transaction.
According to the police, the complainant reported that the two suspects, identified as Peter Desmond and Olami Toro, both residents of Ode-Irele, approached him at his shop on October 25, requesting to exchange United States dollars for their naira equivalent.
Nasiru was said to have disclosed that he handed over $6,000, valued at approximately N8.6 million, to the men. However, while waiting to receive the naira equivalent, the suspects allegedly returned the dollar notes, claiming they did not have sufficient funds to complete the transaction, before leaving.
The complainant later discovered that the notes returned to him were counterfeit, prompting him to report the incident to the police.
The Command said operatives attached to the Okitipupa Divisional Headquarters immediately commenced discreet investigations following the complaint.
Through intelligence gathering and technical tracking, the operatives reportedly traced one of the suspects, Peter Desmond, to Kiniso Village, via Ajue, in Odigbo Local Government Area.
Acting on information received from members of the community, the police raided the suspected hideout on October 29, where the alleged counterfeit currency production operation was uncovered.
One suspect was arrested during the operation, while other occupants of the premises reportedly escaped through the perimeter fence.
A search of the premises led to the recovery of three bags containing suspected counterfeit United States dollar notes and a small wooden box, which were taken into police custody as exhibits.
The police said the arrested suspect had provided useful information to assist the ongoing investigation.
While reacting to the incident, Commissioner of Police, Ondo State Command, CP Felix Ohagwu, directed that investigations be intensified to identify and arrest other persons allegedly connected to the operation, unravel the extent of the suspected counterfeit currency network and ensure that anyone found culpable is brought to justice.
The Commissioner cautioned members of the public against engaging in suspicious foreign currency transactions with unverified individuals or persons offering seemingly attractive exchange deals outside recognised and authorised channels.
He also advised residents to authenticate foreign currencies before accepting them in financial transactions and promptly report suspicious activities to the nearest police station.
